L.A. gasoline jumps 9 cents on EIA draw - trade

[The Straight Story]

L.A. gasoline jumps 9 cents on EIA draw - trade

Wed Aug 17, 2011 1:23pm EDT
* September California gasoline jumps 11 cents
* No new refinery breakdowns immediately seen
(Adds details, background)
HOUSTON, Aug 17 (Reuters) - Wholesale gasoline

differentials jumped 9 cents on Wednesday after the U.S. Energy
Information Administration reported a 1.78-million-barrel draw
last week on West Coast gasoline stocks, traders said.
The draw comes as August-delivery gasoline blended to meet
California's strict environmental standards is nearing expiry,
expected no later than Monday, traders said.

August California gasoline traded on Wednesday morning at a
2-cent premium to September NYMEX RBOB gasoline. On Tuesday,
California gasoline finished at a 7-cent discount.

September-delivery California gasoline sold at 15 cents on
top of the October NYMEX RBOB gasoline contract, a gain of 11
cents.

http://www.reuters.com/article/2011/08/17/refinery-operations-la-gasoline-idUSN1E77G13320110817

[Tippy]

1. Shit ours just went down to $ 3.39.......

[daleanime]

2. Not for long...

nt

[louis-t]

3. Somebody sneeze in Nigeria again?

[Purveyor]

4. Wholesale price has dropped .10 today with crude being off $4.38bbl.

Crude Oil 83.20 -4.38 -5.00%

Gasoline 2.77 -0.10 -3.37%

Heating Oil 2.88 -0.08 -2.82%

Gold 1,815.70 +23.60 +1.32%

[flamingdem]

5. Dang. I'll have to leave my Humvee at the estate and take the Porshe nt

[safeinOhio]

6. The law of supply and demand give way

to "what the market will bear".