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California Gasoline Falls on Highest Seasonal Inventories

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Dec. 26 (Bloomberg) -- Spot gasoline weakened for the first time in five sessions in the Los Angeles and San Francisco areas with seasonal inventories of motor fuel at the highest level in at least a decade.

Stockpiles of gasoline on the U.S. West Coast, known as PADD 5, were 32.6 million barrels for the week ended Dec. 14, the highest seasonal level since at least 2001, according to Energy Department data compiled by Bloomberg. Supplies of distillate fuel were 14.2 million in the same time period, the department reported.

California-blend gasoline, or Carbob, in Los Angeles declined 1 cent to 6.5 cents a gallon over futures on the New York Mercantile Exchange at 4:17 p.m. The same fuel in San Francisco also slid 1 cent to 4.5 cents over futures.

California-grade diesel was unchanged at 2 cents a gallon over heating oil futures in Los Angeles. Diesel in San Francisco traded at a discount of 5.25 cents a gallon, also unchanged.

To contact the reporter on this story: Christine Harvey in New York at charvey32@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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