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San Francisco Gasoline Strengthens on Golden Eagle Work

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Feb. 26 (Bloomberg) -- Spot gasoline in San Francisco strengthened for a second day against futures as Tesoro Corp. performed repairs at the Golden Eagle refinery.

California-blend gasoline, or Carbob, in San Francisco advanced 4.5 cents versus futures traded on the New York Mercantile Exchange, to a discount of 3 cents a gallon at 4:05 p.m. New York time, according to data compiled by Bloomberg.

Golden Eagle, a 170,000-barrel-a-day refinery in Northern California, shut a continuous catalytic reformer Feb. 24 and a boiler shortly after that for unplanned work, a person with direct knowledge of the work said today. Rates have been reduced on units including a catalytic cracker and an alkylation unit, said the person, who asked not to be identified because the information isn’t public.

A small fire occurred at the refinery yesterday in equipment that was out of service, Tina Barbee, a company spokeswoman in San Antonio, said in an e-mail today.

The premium for low-sulfur diesel in San Francisco widened by 1.75 cents to 14.5 cents a barrel versus heating oil futures traded on the Nymex.

Carbob in Los Angeles weakened 3 cents to a premium of 7.5 cents a gallon. California-blend diesel there strengthened 1.25 cents to a premium of 16 cents a barrel.

In Portland, Oregon, the premium for low-sulfur diesel widened 4.25 cents to 12 cents a gallon against futures. Conventional, 84-octane gasoline there strengthened 9.5 cents against Nymex gasoline futures to a premium of 21 cents a gallon.

To contact the reporter on this story: Kenneth Christensen in New York at kchristense9@bloomberg.net

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

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