Los Angeles Gasoline Weakens as Air Products Restores Operations
Stock Chart for Air Products & Chemicals Inc (APD)
California-blend gasoline in Los Angeles weakened against futures after Air Products & Chemicals Inc. (APD) began restoring operations at a plant delivering hydrogen to Southern California refineries.
Air Products started the Wilmington hydrogen plant following a power failure yesterday afternoon that reduced deliveries in the Los Angeles area, said Art George, a spokesman at the company’s headquarters in Allentown, Pennsylvania. The complex is expected to return to full operation within 36 hours, he said in a telephone interview.
Air Products is supplying refinery customers with hydrogen from a plant in Carson that’s connected to the Wilmington complex by pipeline.
California-blend gasoline, or Carbob, in Los Angeles (MOGLDB85) fell 3 cents to a discount of 12 cents a gallon against gasoline futures traded on the New York Mercantile Exchange at 4:21 p.m. East Coast time, according to data compiled by Bloomberg. The fuel rose 3 cents yesterday.
San Francisco (MOGSD85P) Carbob also fell 3 cents to a 15-cent discount to gasoline futures.
California-blend, or CARB, diesel in Los Angeles (DIEILCAD) slipped 1.25 cents to a premium of 14.5 cents a gallon against Nymex heating oil futures. The same fuel in San Francisco (DIEISCAD) weakened 0.75 cent to a 13-cent premium versus futures.
Conventional, 87-octane gasoline in Portland (MOGHD87P), Oregon, dropped 4.5 cents to a 1-cent discount against gasoline futures, the lowest level since March 15.
BP Plc (BP/), based in London, shut the 400-mile Olympic (PIPEA012) oil products pipeline running from western Washington into Oregon twice over the weekend after two “small” spills at the Mount Vernon control station, the state Ecology Department said on its website.
The line, which delivers diesel, jet fuel and gasoline to terminals in both states, has returned to service, a person familiar with the pipeline’s operations said today.
Low-sulfur diesel in Portland (DIEISTPD) rose 1.5 cents to a premium of 35 cents a gallon versus heating oil futures, the highest level in 10 months.
Tesoro Corp. (TSO), based in San Antonio, shut a diesel hydrotreater at the 125,000-barrel-a-day Anacortes (TEANCRUD) refinery in Washington on March 29 for two weeks of planned work, two people with direct knowledge of the plant’s operations said March 30.
BP and ConocoPhillips (COP), based in Houston, are also performing scheduled maintenance at their refineries in Washington.
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