Portland Gasoline Surges Most Since 2008 on BP Refinery Shutdown
The investigation into the fire may last several days and regulatory approval from the state is required for the refinery to start, Bill Kidd, a BP spokesman, said yesterday. The plant on the Washington coast near the U.S.-Canada border.
Conventional, 87-octane gasoline in Portland, Oregon, surged 16.5 cents to 23 cents above New York Mercantile Exchange gasoline futures at 11:35 a.m. in New York, according to data compiled by Bloomberg. That’s the biggest single-day increase for the grade since Dec. 30, 2008.
Carbob in Los Angeles (MOGLDB85) rose 10 cents to a premium of 40 cents a gallon versus futures. That’s the most expensive since Oct. 11.
The premium for Carbob in San Francisco (MOGSD85P) widened 11 cents to 35 cents a gallon above gasoline futures, a four-month high.
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