San Francisco Spot Gasoline Premium Surges by Most in 8 MonthsDan Murtaugh
California-blend gasoline on the San Francisco spot market jumped the most against futures in eight months as refineries in the state reported flaring and planned maintenance.
Phillips 66 said there was flaring from its Rodeo refinery in Northern California yesterday, according to a filing with state regulators. Tesoro Corp. is performing planned maintenance at the Carson refinery in Southern California, Tina Barbee, a San Antonio-based company spokeswoman, said by e-mail.
State-blend gasoline, also known as Carbob, in San Francisco strengthened by 21.5 cents to a premium of 30.5 cents a gallon more than futures on the New York Mercantile Exchange at 4:12 p.m., according to data compiled by Bloomberg. It was the biggest increase since Oct. 9. The premium is at the highest level since May 13.
Carbob in Los Angeles strengthened by 20.5 cents to 33.5 cents a gallon above futures. Conventional gasoline in Portland, Oregon, gained 4 cents to a 7.5-cent-a-gallon premium.
Jet fuel in Los Angeles strengthened by 1.25 cents to a discount of 10 cents a gallon below ultra-low-sulfur diesel futures on the Nymex. The Carson plant supplies 50 percent of the jet fuel to Los Angeles International Airport, according to the website of the refinery’s former owner, BP Plc.
California-blend diesel in San Francisco gained 0.25 cent to a premium of 1.75 cents a gallon above Nymex futures. The fuel in Los Angeles was unchanged at 2.5-cent-a-gallon premium.
Low-sulfur diesel in Portland weakened by 0.5 cent to a discount of 4 cents a gallon below futures.