East Coast Gasoline Spot Price Drops as Refiners Ramp Up

East Coast gasoline declined against New York futures as the region’s refiners processed the most crude since December and fuel inventories rose in the Central Atlantic.

Crude inputs on the East Coast increased by 214,000 barrels to 1.09 million last week, the highest level since Dec. 9, the Energy Department reported. Stockpiles of gasoline grew 1 million barrels to 21.4 million in the Central Atlantic region, which includes New York Harbor. That’s the sharpest rise since July 15.

The premium for conventional, 87-octane gasoline declined 3.5 cents to 18 cents a gallon over futures on the New York Mercantile Exchange at 2 p.m. Prompt delivery dropped 11.43 cents to $3.0213 a gallon.

To contact the reporter on this story: Christine Harvey in New York at charvey32@bloomberg.net

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

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