Chicago Gasoline Jumps After BP Whiting Refinery Fire
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An explosion at BP Plc’s 405,000-barrel-a-day Whiting refinery, the largest plant in the Chicago area, almost doubled the premium for gasoline today on speculation that supplies will shrink.
Spot gasoline in the Chicago region was 12 cents a gallon above October futures on the New York Mercantile Exchange today, up from a 7.25-cent premium yesterday, according to data complied by Bloomberg at 12:43 p.m. Ultra low sulfur diesel strengthened by 2.75 cents to a 3-cent discount to Nymex futures, while jet fuel jumped 6.5 cents to a 14-cent premium.