Bloomberg News

San Francisco Gasoline Dips After State Reports Inventory Growth

January 10, 2013

San Francisco gasoline on the spot market sank to the lowest level in three weeks after the California Energy Commission reported gasoline supplies grew 9.6 percent last week.

California-blend gasoline, or Carbob, inventories rose to 6.83 million barrels in the week ended Jan. 4, the commission said on its website yesterday. State-blend diesel supplies increased 4.8 percent to 3.02 million barrels.

San Francisco Carbob fell 4 cents to a 16.5-cent discount to futures on the New York Mercantile Exchange at 3:58 p.m. in New York, according to data compiled by Bloomberg. It’s the largest gap since Dec. 20.

The same fuel in Los Angeles was unchanged at parity with futures. Conventional, 84-octane gasoline in Portland, Oregon, strengthened 4.5 cents to a 23 cents a gallon below futures.

California-blend diesel in Los Angeles weakened 0.75 cent to a 6.5-cent-a-gallon premium to heating oil futures in New York. The fuel in San Francisco was unchanged at a 4-cent discount. In Portland, low-sulfur diesel gained 5 cents to 5 cents below futures.

To contact the reporter on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus