San Francisco Gasoline Gains to 7-Week High as Shell Has Upset
The 165,000-barrel-a-day Martinez plant northeast of San Francisco isolated a compressor to repair a leak yesterday, a notice to county regulators showed. The refinery had an “operational issue” that led to flaring today, Destin Singleton, a Shell spokeswoman in Houston, said by e-mail.
California-blend gasoline, or Carbob, in San Francisco widened its premium to futures traded on the New York Mercantile Exchange by 0.5 cent to 5.5 cents a gallon at 2:02 p.m., the highest level since July 11, data compiled by Bloomberg show. Prompt-delivery climbed 0.31 cent to $2.9432 a gallon.
Carbob in Los Angeles strengthened 1.25 cents to a premium of 4.75 cents a gallon.
Retail gasoline in California climbed 0.1 cent to average $3.827 a gallon, Heathrow, Florida-based AAA, the nation’s largest motoring organization, said on its website.
The discount for conventional gasoline in Portland, Oregon, a benchmark for the U.S. Pacific Northwest, was unchanged at 1.5 cents a gallon against Nymex futures.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and California-grade diesel in Los Angeles, narrowed for the first time in three days, dropping 43 cents to $12.05 a barrel at 3 p.m. New York time.
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