Los Angeles Spot Gasoline, Diesel Prices Up with Futures
6/18 12:38 PM
Los Angeles Spot Gasoline, Diesel Prices Up with Futures OAKHURST, N.J. (DTN) --- Spot gasoline and diesel prices in Los Angeles rose in early Monday trade as mixed basis met with gains by New York Mercantile Exchange RBOB and ULSD futures following Friday's (6/15) selloff. Oil futures recouped a portion of Friday's drop as traders bought back lower-priced contracts ahead of the Organization of the Petroleum Exporting Countries end of week meeting in Vienna. At 12:45 PM ET, July RBOB futures rose 2.28cts to $2.0460 gallon while the spot month ULSD contract jumped 3.58cts to $2.1228 gallon. NYMEX July West Texas Intermediate crude futures added 13cts to $65.19 bbl and the August Intercontinental Exchange Brent contract rallied $1.24 to $74.68 bbl. June CARBOB in the basin traded 2.0cts over the MERC, down a penny in basis but up 1.28cts to $2.0660 gallon. Trade sources pegged prompt CARB ULSD in L.A. at a 3.0cts premium to the print, tracking the print 3.58cts to $2.1528 gallon. June ULSD for export out-of-state was pegged at a 2.75cts futures premium, up 2.58cts at $2.1503 gallon. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, www.dtn.com. (c) 2018 DTN. All rights reserved.