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US WCoast Products - Gasoline sags on restart

Wed, 29th Jan 2014 04:51

HOUSTON, Jan 28 (Reuters) - California gasoline sagged inthe Los Angeles wholesale market on Tuesday as Chevron Corp. restarted a crude unit following a weekend power outageat its southern California refinery, traders said.

February CARBOB gasoline sold down 4.5 cents in L.A. at 6.5cents a gallon over March NYMEX RBOB gasoline.

In the San Francisco Bay market, February CARBOB gasolinefell 7 cents a gallon to a 2-cent-a-gallon discount under MarchNYMEX RBOB as Royal Dutch Shell Plc restarted a unit atits northern California refinery.

CARBOB gasoline is mandated by the California Air ResourcesBoard (CARB) for use in the state and meets more stringentanti-pollution standards than the gasoline required by the U.S.Environmental Protection Agency in most of the country. CARBOBis made to blend with ethanol.

EPA gasoline in the Portland, Oregon, market was steady at a12-cent-a-gallon discount under March NYMEX RBOB gasoline.

L.A. CARB diesel rose 0.5 cent a gallon to 4.5 cents agallon under March NYMEX heating oil. Bay market CARB dieseldipped 1 cent to 3.5 cents a gallon under March heating oil.

CARB also requires a state-specific, ultra-low-sulfur dieselwith a more stringent formula than EPA diesel.

EPA diesel in Portland remained 4.5 cents a gallon underMarch heating oil.

L.A. February jet fuel was 4.5 cents a gallon under Marchheating oil.

(Reporting by Erwin Seba; Editing by Prateek Chatterjee)

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