Jan 28 (Reuters) - Gasoline gained 2 cents a gallon onMonday in the Los Angeles spot market after a Californiarefinery restarted units following a weekend power interruptionand refiners prepared for a change in gasoline formulas, traderssaid.
BP Plc's 240,000 barrel-per-day (bpd) LosAngeles-area refinery in Carson, California, sustained a powerinterruption on some of its units over the weekend. All of theaffected units, including the sulfur recovery unit, hadrestarted by Monday, according to sources.
CARBOB for delivery anytime in February sold at 30 cents agallon over the March NYMEX RBOB gasoline contract, but gasolinefor delivery in the first cycle of pipeline shipment schedulingin February finished at 17 cents a gallon over the March NYMEXRBOB.
The difference in price is due to the upcoming change informula to summer-grade gasoline, which is made to reduce smogformation, which can more easily happen in the high temperaturesof summer. The switch is required by government regulation inmajor cities that do not meet federal and state air pollutionstandards.
Pipeline operator Kinder Morgan is requiringrefiners to stop shipping winter-grade gasoline by Feb. 15,boosting demand for summer-grade gasoline, which is in tightsupply as refineries are performing refinery overhauls.
February CARBOB gasoline in the San Francisco Bay marketrose 6 cents a gallon to sell to an offer of 9 cents a gallonover March NYMEX RBOB.
Gasoline for delivery in January in the Portland, Oregon,market climbed 10 cents a gallon to sell at a 5-cent-a gallondiscount under February NYMEX RBOB.
February CARB diesel in L.A. rose 2 cents a gallon to 9cents a gallon over March NYMEX heating oil due to the BP upset.In the Bay market, CARB diesel was even with L.A.'s price.
Diesel in the Portland market finished even with March NYMEXheating oil.
Jet fuel in Los Angeles traded unchanged at 11.5 cents agallon over NYMEX heating oil. (Reporting by Erwin Seba)