Chicago Gasoline Rises to Highest Premium in Year on Plant Work

Chicago gasoline strengthened to its largest premium over futures in a year as several refineries ran below planned rates because of maintenance.

Conventional, 87-octane gasoline in Chicago rose 5.5 cents to 28 cents a barrel above futures on the New York Mercantile Exchange at 2:34 p.m. New York time, according to data compiled by Bloomberg. That’s the largest gap since June 2, 2011.

BP Plc’s Whiting, Indiana, refinery, the largest plant servicing the Chicago market, will try this weekend to restart a section of a crude unit that was shut May 31 for unplanned repairs, a person with knowledge of the operations said.

Marathon Petroleum Corp. began maintenance at its Robinson, Illinois, refinery, Shane Pochard, a spokesman at the company’s headquarters in Findlay, Ohio, said in an e-mailed statement.

Citgo Petroleum Corp.’s refinery in Lemont, Illinois, shut most of its main production units for maintenance May 1, a person familiar with plant operations said.

Conventional gasoline in the Midwest strengthened 0.75 cent to a premium of 7.5 cents.

The discount for conventional gasoline in the Gulf Coast narrowed 1.5 cents to 8.63 cents a gallon.

Chicago ultra low-sulfur diesel gained 1.5 cents to 20 cents over Nymex heating oil futures, the highest level since November.

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