Los Angeles Gasoline Drops to Four-Month Low on High Production
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Spot gasoline in Los Angeles tumbled to the lowest level in four months as production in the state jumped to a eight-year seasonal high.
California-blend gasoline, or Carbob, production jumped 5.3 percent in the week ended July 12 to 7 million barrels, the most for the period since 2005, according to data compiled by the California Energy Commission. Valero Energy Corp.’s Wilmington refinery returned its fluid catalytic cracker and alkylation unit to full rates this week after repairs.