Los Angeles Cash Gasoline Basis Tumbled over 15cts on Week


   
   OAKHURST, N.J. (DTN) --- Cash gasoline basis in Los Angeles tumbled more 
than 15cts on the week as planned refinery work in the region continues to 
unwind, with the latest state data showing refiners in the basin had ramped up 
production of the state mandated fuel through the second week of the month.

   The California Energy Commission's latest Weekly Fuels Report shows 
reformulated gasoline production increased 379,000 bbl in the week ended April 
12 while stocks rose 284,000 bbl.

   Sources said April CARBOB in L.A. traded at a 32cts premium to May New York 
Mercantile Exchange RBOB futures, sliding 16cts from the prior Friday.

   May CARBOB traded at a 37cts premium to June RBOB futures. A week ago, the 
fuel was offered at a 47cts premium.

   In San Francisco, business moved to May pipeline timing with CARBOB indexed 
36cts over the June RBOB contract.

   April suboctane in the Pacific Northwest remained at an 18cts futures 
premium.

    

    

   Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, http://www.dtn.com.




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