Spot gasoline in San Francisco weakened for the third straight day as Tesoro Corp. (TSO:US) said the Golden Eagle refinery in Northern California was running normally after repairs.
The 170,000-barrel-a-day refinery had been performing planned maintenance since last week, Tina Barbee, a Tesoro spokeswoman at the company’s headquarters in San Antonio, said by e-mail.
The discount for California-blend gasoline, or Carbob, in San Francisco broadened 4.5 cents to 11.5 cents a gallon versus futures traded on the New York Mercantile Exchange at 3:56 p.m. New York time, the lowest level for this season since at least 2008, data compiled by Bloomberg show.
Carbob in Los Angeles weakened a second day, dropping 1 cent to 6.5 cents below futures. The premium for Carbob in Southern California versus the same fuel in San Francisco widened 3.5 cents to 5 cents a gallon, the biggest in more than three weeks.
Conventional gasoline in Portland, Oregon, a benchmark for the U.S. Pacific Northwest, slipped 0.25 cent to 17.5 cents a gallon below Nymex.
Retail gasoline in California fell 0.2 cent to average $3.811 a gallon, Heathrow, Florida-based AAA, the nation’s largest motoring organization, said on its website.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and California-grade diesel in Los Angeles, narrowed a second day, shrinking 67 cents to $10.54 a barrel at 4:06 p.m. New York time.
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