LA and SF CARBOB Regular Basis Spike Over 15cts


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Basis for reformulated gasoline California Air Resources 
Board fuel standards surged Thursday (3/5) in both Los Angeles and San 
Francisco gasoline amid limited supplies and a rally on underlying RBOB futures 
contract in the New York Stock Exchange (NYMEX).
Los Angeles CARBOB regular basis increased by 16cts to a 45cts premium to April 
NYMEX RBOB futures after a trade was reported at that level. San Francisco 
CARBOB regular basis rose in tandem by 21cts to a 49cts premium.

   Gasoline inventories in PADD 5 fell by 1.1 million bbl to 28.7 million bbl 
in the week ending February 27, below the 28.8 million bbl reported in the same 
week last year, according to the most recent Energy Information Administration 
data. This was  the lowest level since the week ended December 5, when stocks 
were reported at 28.4 million bbl. Gasoline imports dropped to 22,000 bpd from 
168,000 bpd the previous week, compared to120,000 bpd reported in the 
corresponding week of 2025, the same EIA data showed.

   The uptick in gasoline differentials in Los Angeles and San Francisco come 
as refinery capacity tightens with the closure of Phillips 139,000 bpd Los 
Angeles, California, refinery and the upcoming shutdown of Valero's 145,000 
bpd, Benicia California, refinery, with operations scheduled to shut later in 
April.

    




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