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San Francisco Gasoline Weakens a Second Day on Refinery Restarts

Spot gasoline in San Francisco weakened against futures after Tesoro Corp. (TSO)’s Golden Eagle refinery reported an equipment restart and Chevron Corp. (CVX)’s Richmond plant worked to return its crude unit to service.

Tesoro’s 170,000-barrel-a-day Golden Eagle plant northeast of San Francisco was starting unspecified equipment yesterday, a notice to Contra Costa County regulators showed. The 240,000- barrel-a-day Richmond refinery, the largest in Northern California, plans to resume normal operations by the end of the month at the lone crude unit, shut since an Aug. 6 fire.

California-blend gasoline, or Carbob, in San Francisco weakened for a second day against gasoline futures traded on the New York Mercantile Exchange, losing 0.5 cent to a premium of 23 cents a gallon at 2:01 p.m. New York time, data compiled by Bloomberg show.

California-blend, or CARB, diesel in San Francisco dropped 5.5 cents to a discount of 0.5 cent a gallon against ultra-low- sulfur diesel futures on the Nymex, a three-month low.

Carbob in Los Angeles slipped 0.5 cent versus futures to a premium of 8 cents a gallon. CARB diesel there, which began trading for May delivery, declined 0.5 cent a gallon to 0.5 cent below June ULSD futures.

Exxon Mobil Corp. (XOM)’s 150,000-barrel-a-day Torrance refinery in Southern California reported a breakdown and flaring through April 26, a notice to the South Coast Air Quality Management District shows.

In Portland, Oregon, gasoline weakened 0.25 cent to a premium of 5.25 cents a gallon. Diesel there dropped 2 cents to a premium of 3 cents a gallon against 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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