Los Angeles Gasoline Weakens After Refinery Operates Normally

Spot gasoline in Los Angeles fell the most in eight weeks after Exxon Mobil Corp. said its Torrance refinery was operating after a malfunction yesterday.

California-blend, or Carbob, gasoline in Los Angeles weakened by 15.5 cents to a premium of 35.5 cents a barrel against futures traded on the New York Mercantile Exchange, according to data compiled by Bloomberg. It’s the largest one-day drop since July 17.

Exxon’s 150,000-barrel-a-day Southern California plant was operating after a mechanical issue in one of its units resulted in flaring yesterday, Gesuina Paras, a Torrance-based spokeswoman for the company, said by e-mail. The breakdown didn’t affect production.

Carbob in San Francisco weakened by 13 cents to a premium of 44.5 cents a barrel versus futures. Conventional, 84-octane gasoline in Portland, Oregon, slid 2 cents to a premium of 19 cents.

California-blend diesel in Los Angeles was unchanged at a 2.75-cent premium to ultra-low-sulfur diesel futures on the Nymex. The fuel in San Francisco was also unchanged at a premium of 6.5 cents.

Low-sulfur diesel in Portland was unchanged at 1.25 cents a gallon more than New York futures.

Gulf Coast

Conventional, 85-octane gasoline for ethanol blending, or CBOB, on the Gulf Coast weakened by 2.25 cents to 14.75 cents a barrel below Nymex futures. The conventional, 87-octane grade fell by 3.25 cents to 11.75 cents a gallon less than futures.

Ultra-low-sulfur diesel on the Gulf Coast strengthened by 0.25 cent to a discount of 3.13 cents a barrel less than diesel futures on the Nymex.

CBOB in Chicago weakened by 4.75 cents to a discount of 2 cents a gallon less than New York futures. Diesel in Chicago was unchanged at 1.75 cents a gallon over futures.

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