Gulf Gasoline Declines as Phillips 66 Starts Units at Alliance
Gulf Coast gasoline weakened after Phillips 66 restarted several units at its Alliance refinery in Belle Chasse, Louisiana.
Phillips 66 expects all units at the 247,000-barrel-a-day plant to be started by the end of the week, the company said in a statement on its website. Power was lost to the refinery on Sept. 5, the second time in about a week after the plant was shut in preparation for Hurricane Isaac.
The premium for conventional, 87-octane gasoline on the Gulf Coast fell 1.13 cents to 7.75 cents a gallon versus futures traded on the New York Mercantile Exchange at 4 p.m., according to data compiled by Bloomberg. Prompt delivery fell 9.3 cents to $3.017 a gallon.
The crude unit is warming up and will take about two days to return to service ahead of other process units at the plant, said the person, who asked not to be identified because the information isn’t public.
The premium for reformulated, 87-octane gasoline in New York Harbor, fell 7.25 cents to 17.75 cents a gallon versus futures. It is the lowest level since Aug. 31.
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