HOUSTON, March 14 (Reuters) - March-delivery CARBOB gasoline dove 18 cents per gallon in the Los Angeles spot market on Wednesday as at least three cargoes of gasoline were expected to arrive this week at West Coast ports, according to trade sources.
Rumors about early restarts of California refineries, currently shut for repairs, circulated, dealers said.
March L.A. CARBOB finished at a 13.5-cent premium on NYMEX April RBOB gasoline. April L.A. CARBOB ended the day at an 8-cent discount to NYMEX May RBOB. May CARBOB sold at a 5.25-cent discount to June RBOB.
March San Francisco Bay market CARBOB was tied with L.A.
In the Portland, Oregon, market, gasoline fell 8.75 cents to a 9.75-cent discount to April NYMEX RBOB.
Cargoes of gasoline from Asia have been expected since the Feb. 17 shutdown of BP Plc’s 225,000 barrel per day Cherry Point, Washington, refinery following a fire.
March CARB diesel in L.A. retreated on the slide in U.S. crude oil prices, finishing down 3 cents at a 14-cent premium on April NYMEX heating oil.
Bay market CARB diesel finished in a bid-offer spread of 10 cents/15 cents on April NYMEX heating oil.
L.A. jet fuel was valued at 15 cents over NYMEX heating oil.
Portland diesel finished 1 cent stronger at 25 cents a gallon over NYMEX heating oil.