Los Angeles Gasoline Gains on Tankers as Chevron Plans RepairsLynn Doan
Spot gasoline and diesel in Los Angeles advanced against futures as Chevron Corp.’s El Segundo plant was said to be planning repairs on two crude units and five tankers were scheduled to load fuel in the West for export.
Chevron’s 279,000-barrel-a-day El Segundo refinery, the largest in California, will shut the No. 4 crude unit next month for short-term repairs, a person familiar with the schedule said today. The No. 2 crude unit will also be brought down in August for a maintenance turnaround expected to last several weeks, said the person, who asked not to be identified because the information isn’t public.
BP Plc, based in London, chartered the Valle Bianca to load clean products off the West Coast June 16 for delivery to Chile and chartered the Eagle Express to load fuel on June 24 for delivery to the South and Central America region, ship-fixture data compiled by Bloomberg show.
The Hague-based Royal Dutch Shell Plc has scheduled the Marlin Topaz to take fuel off the coast on June 22 to Chile. The Atlantic Titan and the Nave Bellatrix were also chartered to load products in the West this week for delivery to Chile, the data compiled by Bloomberg show.
California-blend gasoline, or Carbob, in Los Angeles advanced 4.5 cents against futures gasoline futures traded on the New York Mercantile Exchange to a premium of 29.5 cents a gallon at 4:21 p.m. New York time, the fuel’s highest level for this season in five years, data compiled by Bloomberg show. Prompt-delivery surged 9.62 cents to $3.1563 a gallon.
The premium for Los Angeles Carbob versus the same fuel in San Francisco widened 4.5 cents to 8.5 cents a gallon, the most in more than five weeks.
California-blend, or CARB, diesel in Los Angeles jumped 1 cent against ultra-low-sulfur diesel futures to a premium of 3.5 cents a gallon, the highest in four days. CARB diesel in San Francisco climbed 0.5 cent to 5.5 cents a gallon above futures.
Regular gasoline at pumps in California slipped 0.2 cent to $3.632 a gallon, according to Heathrow, Florida-based AAA, the nation’s largest motoring organization.
Spot, conventional gasoline in Portland, Oregon, strengthened 0.75 cent against futures to a premium of 8.75 cents a gallon. Low-sulfur diesel there jumped 5.5 cents against ULSD futures to a premium of 0.5 cent a gallon, the highest level in more than two weeks.
Portland gasoline’s discount to Los Angeles Carbob widened 3.75 cents to 20.75 cents a gallon.
The 3-2-1 crack spread of Alaska North Slope crude, Carbob in Los Angeles and CARB diesel in Los Angeles gained 21 cents to $26.28 a barrel. The spread, a rough measure of refining profits, reached a three-month high earlier this week.