Los Angeles Gasoline Falls as Refinery Starts Catalytic Cracker

Spot gasoline in Los Angeles weakened against futures as California’s largest oil refinery was said to be restarting a fluid catalytic cracker.

Chevron Corp. (CVX)’s El Segundo plant in Southern California was to restart the unit yesterday, according to a person with direct knowledge of operations at the refinery. Maintenance on the unit, which processes vacuum gasoil into gasoline and other light products, began in mid-January.

California-blend gasoline, or Carbob, in Los Angeles weakened by 5.25 cents to a premium of 5.5 cents a gallon against futures traded on the New York Mercantile Exchange at 4 p.m. East Coast time, according to data compiled by Bloomberg. California-blend diesel in Los Angeles fell 1 cent to a 0.75- cent-premium versus ultra-low-sulfur diesel futures.

Carbob in San Francisco strengthened by 0.5 cent to a premium of 24-cents a gallon. Diesel in San Francisco weakened by 3 cents to 6 cents a gallon more than futures.

Conventional gasoline in Portland, Oregon, strengthened by 0.5 cent to 6 cents a gallon over Nymex futures. Low-sulfur diesel there weakened by 2.5 cents to a premium of 6 cents a gallon.

To contact the reporter on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net

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

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