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U.S. Northwest Gasoline Rises by Most in a Month on Plant Upset

Feb. 3 (Bloomberg) -- Gasoline in the U.S. Northwest strengthened for the first time in seven days as Tesoro Corp. started a unit at the Anacortes refinery in Washington state after an equipment malfunction.

Conventional, 87-octane gasoline in Portland, Oregon, strengthened 2.25 cents to a discount of 17.5 cents against gasoline futures traded on the New York Mercantile Exchange at 4:14 p.m. East Coast time, according to data compiled by Bloomberg. That’s the largest rise for the fuel since Jan. 3.

A unit at the 125,000-barrel-a-day Anacortes refinery shut after an equipment malfunction yesterday, Tina Barbee, a Tesoro spokeswoman at the company’s headquarters in San Antonio, said in an e-mail. She said the unit is being restarted and the company expects to meet all supply commitments.

Portland gasoline dropped 4.75 cents yesterday to a discount of 19.75 cents, the lowest level since Jan. 17, 2008.

Carbob in Los Angeles rose 3 cents to a premium of 12.5 cents versus gasoline futures, the highest level in three weeks. The same fuel in San Francisco fell 2.25 cents to a discount of 1.5 cents against futures.

California-blend, or CARB, diesel in Los Angeles climbed 0.5 cent to 1.5 cents above Nymex heating oil futures. San Francisco CARB diesel rose 2.38 cents to reach parity with 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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