West Coast gasoline prices surge amid refinery upsets, Mexican demand

The refinery upsets come as Mexican gasoline demand has prompted a slew of cargo bookings from West Coast hubs.
(Photo: Reuters)
17/12/2015
18:40
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Prompt Los Angeles CARBOB differentials rose roughly 18 cents to trade at a high of a 52-cents a gallon premium to the January NYMEX RBOB contract on Thursday amid increased demand from Mexico and ongoing refinery upsets, traders said.

Differentials had been climbing steadily throughout the week following prolonged unplanned issues at Tesoro's Carson refinery near Los Angeles and its Anacortes, Washington refinery. An issue at Tesoro's Martinez refinery near San Francisco also had that facility running at reduced rates earlier this week.

Meanwhile, Shell on Wednesday confirmed unplanned maintenance was underway at its Martinez refinery near San Francisco.

The refinery upsets come as Mexican gasoline demand has prompted a slew of cargo bookings from West Coast hubs, straining the already thinly supplied markets.

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