Bloomberg News

Discount for San Francisco Gasoline Narrows to Smallest in Week

August 02, 2013

The discount for spot gasoline in San Francisco narrowed to the smallest differential versus futures in more than a week.

California-blend gasoline, or Carbob, in the Northern California area strengthened by 10 cents against gasoline contracts traded on the New York Mercantile Exchange to a discount of 7 cents a gallon, data compiled by Bloomberg at 4:35 p.m. New York time show.

Carbob in Los Angeles climbed 0.75 cent to 7 cents a gallon below futures.

Chevron Corp. (CVX:US)’s El Segundo refinery, the largest in the state, was scheduled to shut the No. 2 crude unit this month for maintenance that’s expected to last several weeks, a person familiar with the work said June 13.

California-grade, or CARB, diesel in Los Angeles slipped 0.25 cent against ultra-low-sulfur diesel futures on the Nymex to a premium of 4.75 cents a gallon. The same fuel in San Francisco was unchanged at 4 cents a gallon above futures.

Low-sulfur diesel in Portland, Oregon, a benchmark for the U.S. Pacific Northwest, weakened 0.5 cent to 3 cents a gallon over futures.

Conventional gasoline in Portland weakened against gasoline futures for a second day, losing 2.5 cents to a discount of 2 cents a gallon.

Retail gasoline in California dropped 0.9 cent to $3.969 a gallon, Heathrow, Florida-based AAA, the nation’s largest motoring organization, said today on its website.

The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and CARB diesel in Los Angeles narrowed for a third day, losing 24 cents to $13.58 a barrel at 4:43 p.m. New York time, a one-month low.

To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@bloomberg.net

To contact the editor responsible for this story: Bill Banker at bbanker@bloomberg.net


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