Wholesale gasoline rose 2 cents a gallon in Los Angeles market on Thursday as supply was seen tightening due to seasonal maintenance at West Coast refineries, said West Coast refined products markets traders.
CARBOB gasoline for delivery in November sold at 37.5 cents a gallon over December RBOB futures on the New York Mercantile Exchange, traders said.
The formula for gasoline sold in California's cities is mandated by the California Air Resources Board for blending with the oxygenate ethanol. The formula is more stringent than that mandated by the U.S. Environmental Protection Agency.
In the San Francisco market, wholesale CARBOB was valued at 24.5 cents a gallon over December RBOB.
October EPA gasoline in the Portland market was 8 cents a gallon over November RBOB futures.
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As with gasoline, a California-specific ultra low sulfur diesel (ULSD) is also required by CARB to have a more stringent formula than EPA diesel.
November-delivery L.A. CARB diesel dipped 2 cents per gallon to a 0.5-cent discount to December ULSD futures. San Francisco CARB diesel held at a 1.5-cent premium to futures, traders said.
Portland EPA diesel remained at an 8-cent premium to November NYMEX ULSD.
