Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

Los Angeles wholesale gasoline hits new high on refinery outages

Stock Markets Sep 28, 2022 09:12PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. People refuel their vehicles with gasoline at a Shell gas station in Los Angeles, California, U.S., March 10, 2022. REUTERS/Bing Guan/Files
 
CVX
+1.41%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
VLO
+0.46%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MPC
+1.43%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
PSX
+1.19%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

HOUSTON (Reuters) - Wholesale October gasoline sold in the Los Angeles market at $2.50 a gallon over NYMEX November RBOB gasoline futures on Wednesday, a high previously unseen in the West Coast refined products markets on tight supply because of refinery outages, traders said.

The price for wholesale CARBOB gasoline, which stands for the gasoline blend to mix with ethanol required by the California Air Resources Board, has been climbing for the past two weeks as planned and unplanned refinery outages tightened supply.

Phillips 66 (NYSE:PSX)'s 139,000 barrel-per-day (bpd) Los Angeles-area refinery in Wilmington, California, began an overhaul after a Sept. 16 fire on a reformer.

Valero Energy Corp (NYSE:VLO) began planned work on units at its 145,000 bpd San Francisco Bay-area refinery in Benicia, California, on Sept. 20.

On Sept. 11, Chevron Corp (NYSE:CVX) reported an equipment failure at its 245,271 bpd San Francisco-area refinery in Richmond, California.

Marathon Petroleum (NYSE:MPC) shut a unit in planned flaring between Sept. 3 and 9 at its 383,000 bpd Carson, California, refinery in the Los Angeles area.

On Wednesday, October CARBOB gasoline was valued at $2.45 a gallon over November NYMEX RBOB in the San Francisco market.

Los Angeles market gasoline for delivery later in October was lower, pointing to some refinery production returning within a few weeks, traders said.

CARBOB gasoline for delivery in the back half of October gasoline traded at $1.50 over November NYMEX RBOB.

November CARBOB sold in Los Angeles at 50 cent and 57 cents a gallon over December NYMEX RBOB.

Los Angeles wholesale gasoline hits new high on refinery outages
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email