California Gasoline Rises to Six-Week High on Refinery Work Plan
California-blend gasoline in San Francisco strengthened to a six-week high against futures on planned work at Tesoro Corp. (TSO)’s Martinez and Valero Energy Corp. (VLO)’s Wilmington refineries next month.
Carbob in San Francisco jumped 6.75 cents to a premium of 14.75 cents a gallon versus gasoline futures on the New York Mercantile Exchange at 4:47 p.m. New York time, according to data compiled by Bloomberg. That’s the largest gap since Nov. 8.
San Antonio-based Valero plans to idle a crude unit and a coker at the 135,000-barrel-a-day Wilmington refinery for four weeks beginning next month, according to the company’s website. Tesoro, also based in San Antonio, plans to cut rates at the Martinez refinery next month for maintenance, two people familiar with the refinery’s operations said Oct. 5.
California-blend diesel, known as CARB diesel, in Los Angeles rose 1 cent to a premium of 2 cents against heating oil futures traded on the Nymex.
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