East Coast gasoline weakened the most in almost two weeks as refiners produced winter-grade fuel that may boost fuel supplies and plants completed repairs.
The switch to winter-grade gasoline, which has a higher vapor pressure and can be made from cheaper, more readily available components than summer fuel, may add to stockpiles that grew 1 million barrels to 21.4 million in the Central Atlantic region the week ended Oct. 5, the Energy Department reported.
Delta Air Lines Inc.’s Monroe Energy LLC subsidiary increased rates at its 185,000-barrel-a-day Trainer refinery in Pennsylvania, contributing to supplies in the New York Harbor. The refinery was closed in September 2011.
The premium for reformulated 87-octane gasoline on the East Coast dropped 6 cents to 11 cents a barrel over futures on the New York Mercantile Exchange at 2:06 p.m., the biggest decline since Oct. 2. Prompt delivery slid 8.68 cents to $2.976 a gallon.
Crude inputs on the East Coast increased by 214,000 barrels to 1.09 million Oct. 5, the highest level since Dec. 9, the Energy Department reported. The premium for conventional 87-octane gasoline in the New York Harbor slid 3 cents to 17.5 cents a barrel.