Gulf Gasoline Weakens as Exxon Fire Doesn’t Affect Production

Spot gasoline in the Gulf Coast weakened against futures for the first time in six days after Exxon Mobil Corp. said a Beaumont refinery fire was in a unit that was shut for maintenance and didn’t affect production.

The blaze yesterday injured 12 contract employees, seven of whom remained in a hospital in Galveston, Texas, today, Rachael Moore, a Fairfax, Virginia-based spokeswoman for the company, said in an e-mail.

The discount for conventional, 85-octane gasoline, or CBOB, in the Gulf widened 1 cent to 13 cents a gallon versus futures on the New York Mercantile Exchange at 1:51 p.m., according to data compiled by Bloomberg.

Reformulated gasoline shrank 3 cents to a premium of 3.5 cents a gallon, while conventional, 87-octane gasoline weakened 3.25 cents to a discount of 9.75 cents a gallon.

Ultra-low-sulfur diesel fuel on the Gulf remained unchanged at 1.5 cents a gallon below Nymex futures.

The 3-2-1 crack spread on the Gulf, a rough measure of refining margins based on West Texas Intermediate in Cushing, Oklahoma, slipped $1.27 to fall to $24.72 a barrel. The same spread for Light Louisiana Sweet oil fell 77 cents to $12.87 a barrel, according to data compiled by Bloomberg.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE