San Francisco Gasoline Tumbles After Tesoro Plant Finishes Work

California-blend gasoline in San Francisco tumbled from a seven-day high after Tesoro Corp. (TSO) finished scheduled maintenance at the Wilmington refinery in Southern California.

The premium for California-blend gasoline, or Carbob, in San Francisco dropped 7.87 cents to 3.38 cents a gallon versus gasoline futures traded on the New York Mercantile Exchange at 2:31 p.m. New York time, according to data compiled by Bloomberg. The fuel had gained for three straight days after a crude unit caught fire at Chevron Corp. (CVX)’s Richmond refinery.

San Antonio-based Tesoro completed planned work at the 97,000-barrel-a-day Wilmington refinery that began last month, Tina Barbee, a spokeswoman based at company headquarters, said in an e-mail. Two people familiar with the plant’s operations said Oct. 26 the refinery was conducting maintenance on a delayed coker and a hydrogen treating unit.

Chevron’s Richmond refinery in Northern California “continues to supply products to our customers without interruption,” Melissa Ritchie, a spokeswoman at the plant, said in an e-mail today. San Ramon, California-based Chevron has declined to comment on the status of the refinery’s crude unit since it caught fire Nov. 14 while starting up.

Carbob in Los Angeles fell 4.12 cents to a premium of 5.38 cents to futures.

California-blend diesel in Los Angeles slipped 0.37 cent to a premium of 3.38 cents to heating oil futures traded on the Nymex. The same fuel in San Francisco fell 2.75 cents to a premium of 1 cent.

Conventional, 87-octane gasoline in Portland, Oregon, strengthened 0.5 cent to a premium of 2 cents versus gasoline futures.

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

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

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