California Gasoline Gains After Valero Hydrocracker Maintenance

Spot gasoline in San Francisco gained for the first time in five days after Valero Energy Corp. (VLO) said the Benicia refinery in Northern California performed work on a hydrocracker.

The 170,000-barrel-a-day plant conducted “very brief planned maintenance” on the unit today, Bill Day, a spokesman at the company’s headquarters in San Antonio, said by e-mail. “No material impact to production.”

California-grade gasoline, or Carbob, in San Francisco climbed 1 cent to a discount of 3.5 cents a gallon over gasoline futures traded on the New York Mercantile Exchange at 1:41 p.m. East Coast time, data compiled by Bloomberg show. The same fuel in Los Angeles gained for the first time in eight days, increasing 2.25 cents to 8.75 cents a gallon against futures.

The Benicia hydrocracker, which breaks down oil feedstock into lighter products such as gasoline, is back at “planned rates,” Day said.

California-grade, or CARB, diesel in San Francisco was 2.5 cents a gallon over Nymex heating oil futures for a fourth day. CARB diesel in Los Angeles held at a premium of 4.25 cents a gallon.

Conventional 84 sub-octane gasoline to be blended with ethanol in Portland, Oregon, fell for the fifth day, dropping 3.25 cents to 17.5 cents a gallon under gasoline futures. Low- sulfur diesel in Portland was unchanged at 12 cents a gallon over heating oil 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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