San Francisco Gasoline Strengthens on Golden Eagle Fire

Spot gasoline in San Francisco strengthened for a second day against futures as Tesoro Corp. (TSO) reported a minor fire at the Golden Eagle refinery.

California-blend gasoline, or Carbob, in San Francisco advanced 4.5 cents versus futures traded on the New York Mercantile Exchange, to a discount of 3 cents a gallon at 4:05 p.m. New York time, according to data compiled by Bloomberg.

The small fire occurred in equipment that was out of service at Tesoro’s 170,000-barrel-a-day refinery in Northern California, Tina Barbee, a company spokeswoman in San Antonio, said in an e-mail today.

The premium for low-sulfur diesel in San Francisco rose 1.75 cents to a 14.5 cents a barrel versus heating oil futures traded on the Nymex.

Carbob in Los Angeles fell 3 cents to a premium of 7.5 cents a gallon. California-blend diesel there rose 1.25 cents to a premium of 16 cents a barrel.

In Portland, Oregon, the premium for low-sulfur diesel widened 4.25 cents to 12 cents a gallon against futures. Conventional, 84-octane gasoline there gained 9.5 cents against Nymex gasoline futures to a premium of 21 cents a gallon.

To contact the reporter on this story: Kenneth Christensen in New York at kchristense9@bloomberg.net

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

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