Los Angeles Sept., Oct. Cash Gasoline Basis Extend Gains
9/22 12:47 PM
Los Angeles Sept., Oct. Cash Gasoline Basis Extend Gains OAKHURST, N.J. (DTN) --- Offers for Los Angeles September cash gasoline basis jumped early Friday on the final day of business for this month pipeline scheduling while October basis also firmed in thin early trade. October CARBOB moves to prompt month on Monday (9/25). The basis jump on Friday follows a refiner buying fueled surge in basis of more than 30cts on Thursday, with state filing details showing planned flaring at two area refineries. Phillips 66 reported planned flaring Thursday through the end of October at its 147,000 bpd Los Angeles refinery due to an "essential operational need," according to a filing with the South Coast Air Quality Management District. PBF Energy's 160,000 bpd Torrance refinery was to begin flaring Friday due to a planned turnaround scheduled through mid-October, per the SCAQMD. In other news, the Environmental Protection Agency on Thursday granted a two-day extension of the Reid Vapor Pressure Waiver for certain areas of Arizona that are mandated to use Clean Burning Gasoline. The initial waiver granted Sept. 6 covering Maricopa County and parts of Pinal and Yavapai counties, "addressed a fuel supply emergency caused by unplanned outages at several refineries" supplying CBG from the eastern pipeline originating in Texas as well as Tropical Storm Hillary's impact to operations of the west pipeline that supplies Phoenix from California. Thursday's extension cited "unplanned service disruption and resulting delay on the western pipeline" as having reduced CBG supplies. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, www.dtn.com. (c) Copyright 2023 DTN, LLC. All rights reserved.