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West Coast Spot Gasoline Prices Decline as Futures Falter
9/26 12:29 PM
West Coast Spot Gasoline Prices Decline as Futures Falter OAKHURST, N.J. (DTN) --- Spot gasoline prices in California and Pacific Northwest trade markets edged lower early Tuesday with the downturn by New York Mercantile Exchange RBOB futures In paper trade, oil futures gave back a portion of Monday's run-up as on profit taking ahead of the release weekly domestic oil supply data. At 1:20 PM ET, October RBOB futures dropped 2.5cts to $1.6970 gallon while the November contract fell 1.66cts to $1.6508 gallon. Spot month ULSD futures dropped 2.45cts to $1.8318 gallon and the November ULSD contract was down 2.36cts at $1.8259 gallon. NYMEX November West Texas Intermediate crude oil futures traded 32cts lower at $51.90 bbl and the spot month Intercontinental Exchange Brent contract dropped 77cts to $48.25 bbl. Trade sources pegged October CARBOB in the Los Angeles basin at a 14.5cts premium to November RBOB futures after a deal there, marginally lower at $1.7958 gallon. Prompt CARBOB in San Francisco was talked down more than a penny, pegged at a 2.0cts premium to the basin. In the Pacific Northwest, prompt suboctane tracked futures down more than 1.5cts, holding at a 2.0cts discount to November RBOB futures. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, www.dtn.com. (c) 2017 DTN. All rights reserved.