HOUSTON Aug 13 California gasoline's premium
rose in the Los Angeles wholesale market on Wednesday after the
U.S. government reported a draw on West Coast gasoline
inventory, traders said.
August-delivery CARBOB gasoline gained 4 cents a gallon to
18 cents a gallon over September NYMEX RBOB gasoline in L.A.
after the U.S. Energy Information Administration said West Coast
gasoline inventory fell 170,000 barrels last week to 27 million
August CARBOB was unchanged at 19 cents a gallon over
September NYMEX RBOB gasoline in the San Francisco Bay market.
CARBOB gasoline is mandated by the California Air Resources
Board (CARB) for use in the state and meets more stringent
anti-pollution standards than gasoline in most of the country,
as required by the U.S. Environmental Protection Agency. CARBOB
is made to blend with ethanol.
August EPA gasoline fell 11 cents to 19 cents a gallon over
September NYMEX RBOB in the Portland, Oregon, market on
expectations of increasing supply to the Pacific Northwest in
the coming days.
As with gasoline, a state-specific ultra-low sulfur diesel
is required by the CARB, with a more stringent formula than EPA
August CARB diesel rose 0.5 cent a gallon in the L.A. market
to 9.5 cents a gallon over September NYMEX heating oil after the
EIA said West Coast distillate inventory fell 388,000 barrels to
11.4 million barrels.
In the Bay market, August CARB diesel gained 2 cents a
gallon to 12 cents a gallon over September NYMEX heating oil.
Portland EPA diesel was unchanged at 10.5 cents a gallon
over September NYMEX heating oil.
(Reporting by Erwin Seba; Editing by Ken Wills)