New York Gasoline Drops as Sunoco Restarts Catalytic Cracker

New York gasoline weakened as Sunoco Inc. (SUN) was said to restart a key gasoline-making unit at its Philadelphia refinery.

Catalytic cracker 1232, which was shut because of a wet- gas-compressor malfunction late Aug. 29, is operating at reduced rates, said a person familiar with the situation who declined to be identified because the information isn’t public.

The discount for conventional, 87-octane gasoline in New York Harbor widened 2.25 cents to 4.75 cents a gallon at 3:17 p.m. in New York. Prompt delivery rose 1.37 cents to $2.9845 a gallon.

The same fuel in the Gulf Coast weakened 0.62 cent to a premium of 4.88 cents a gallon versus futures.

Total U.S. gasoline stockpiles fell 2.8 million barrels to 208.6 million last week, according to the Energy Department. Analysts estimated the government report would show a decline of 1.05 million barrels, according to a Bloomberg survey.

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net.

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

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