Gulf Gasoline Weakens as Pasadena Plant Production Units Return

Gulf Coast gasoline weakened as Pasadena Refining System Inc., a unit of Petroleo Brasileiro SA (PBR), brought back all units at its refinery in Texas and analysts forecast a rise in U.S. inventories of the fuel.

“The refinery is fully operational,” Pasadena Refining said in an e-mailed statement. The 106,500-barrel-a-day plant shut after a fire in a crude unit Sept. 30.

Total U.S. gasoline stocks may rise 1 million barrels to 207 million barrels in the period ending Nov. 4, according to the median forecast of 13 analysts in a Bloomberg survey.

The differential for reformulated, 87-octane gasoline in the Gulf Coast weakened 4.25 cents to a discount of 1.75 cents a gallon versus futures traded on the New York Mercantile Exchange in New York at 1:58 p.m., according to data compiled by Bloomberg. It is the lowest level since Oct. 31. Prompt delivery slipped 5.93 cents to $2.6939 a gallon.

Refinery use is expected to increase 0.35 percentage point to 85.65 percent, according to 10 analysts polled by Bloomberg.

Valero Energy Corp. (VLO) completed a turnaround on equipment including a crude unit at its Three Rivers refinery in Texas, Bill Day, a company spokesman said in a Nov. 3 e-mail.

To contact the reporter on this story: Paul Burkhardt in New York at

To contact the editor responsible for this story: Dan Stets at

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.