BP plc : West Coast Products : Spot Gasoline Unchanged and Distillates Up
06/14/2012| 06:42pm US/Eastern
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LOS ANGELES--Spot prices for West Coast gasoline were essentially unchanged on Thursday, except in the Pacific Northwest where the restart of BP PLC's (BP, BP.LN) Washington refinery has already caused a glut. Distillates rose a modest amount in muted trading.
Los Angeles June California reformulated gasoline blendstock for oxygenate blending, or Carbob, was unchanged at $2.595 and done at 7.0c and 8.0c under July Nymex gasoline.
California lowball retail gasoline was still a relatively high $3.46, but down another 8.0c.
July Carbob was done 5.0c and 5.5c under August Nymex gasoline, up 1.5c to $2.55.
June California Air Resources Board, or CARB, diesel was done 4.0c over July Nymex heating oil, up 1.5c to $2.67.
Ultralow-sulfur diesel was still assessed 1.0c under CARB diesel in muted trading.
June jet fuel was notionally assessed 8.0c over July Nymex heating oil, up 1.5c to $2.71.
Bay-Area Carbob gasoline assessed at parity to Los Angeles without any deal recorded.
June CARB diesel was notionally assessed at parity to Los Angeles in muted trading.
Portland June conventional gasoline fell to $2.505, down 3.0c, on the back of a deal done at 17.0c under July Nymex gasoline.
Portland ultralow-sulfur diesel was notionally assessed 5.0c over July Nymex heating oil, up 2.0c to $2.68
The July gasoline gross profit refining margin, for Los Angeles-area refiners running Alaska North Slope crude and selling Carbob gasoline, was down 66 cents a barrel to a very low $6.94 a barrel.
Write to Ken Clark at ken.clark@dowjones.com
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