Not Logged In Log In   Sign Up   Points Leaders
Follow Us    6:59 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gulf Coast Gasoline Weakens as Outlets to U.S. Midwest Dry Up Back to Topics
mastermariner

Champion Author
Texas

Posts:12,718
Points:1,082,995
Joined:Jun 2011
Message Posted: Jun 17, 2013 5:11:00 PM

Conventional, 87-octane gasoline on the Gulf Coast weakened by 4.38 cents to 11 cents a gallon below futures traded on the New York Mercantile Exchange at 1:39 p.m., according to data compiled by Bloomberg. The discount for 85-octane conventional blendstock for oxygenate blending on the coast widened 3.75 cents to 15.5 cents a gallon.

Discounts narrowed last week after supply shortages in the Chicago area pushed prices there to a record premium on June 3. Chicago prices fell to a discount on June 14 after Exxon Mobil Corp. (XOM)’s Joliet, Illinois, refinery returned to service after planned maintenance.

Visit Bloomberg for full article
REPLIES (newest first) Post a Reply
Profile Pic
lesndave
Champion Author Texas

Posts:5,545
Points:1,307,545
Joined:May 2011
Message Posted: Jun 18, 2013 11:05:17 PM

Ya don't say!!!!
Profile Pic
Sneakers55
Champion Author Houston

Posts:62,014
Points:2,672,545
Joined:Nov 2005
Message Posted: Jun 18, 2013 7:09:43 PM

On Jun 18, 2013 5:53:20 AM, VMIJim wrote:

>2014 Elections are coming!!

Move to a blue state. Most of the red states are so overwhelmingly red that the Republicans could run Mickey Mouse and he would win the election.
Profile Pic
Sneakers55
Champion Author Houston

Posts:62,014
Points:2,672,545
Joined:Nov 2005
Message Posted: Jun 18, 2013 7:06:16 PM

On Jun 17, 2013 5:45:23 PM, DoctorV wrote:

>85 octane is not sold retail to the public.

That is correct at lower altitudes, but at higher altitudes 85 octane is sold as regular. However, some vehicles require 87 octane at all altitudes. Those vehicles require midgrade at higher altitudes. ASTM D 4814 goes into detail about where 85 octane may be sold as regular.

Profile Pic
Sneakers55
Champion Author Houston

Posts:62,014
Points:2,672,545
Joined:Nov 2005
Message Posted: Jun 18, 2013 6:41:03 PM

Gulf Coast gasoline weakening? Let it go into a coma!
Profile Pic
ss70
Champion Author Detroit

Posts:12,904
Points:2,446,405
Joined:Sep 2005
Message Posted: Jun 18, 2013 2:46:23 PM

yeah gulf coast ... you fleeced all the mid west money dry
Profile Pic
DoctorV
Champion Author Detroit

Posts:4,829
Points:800,810
Joined:Aug 2008
Message Posted: Jun 18, 2013 10:45:21 AM

LOL runway12. Is there an echo in here? I guess VMI doesn't teach creativity well.
Profile Pic
runway12
Champion Author Tacoma

Posts:3,202
Points:649,435
Joined:Aug 2008
Message Posted: Jun 18, 2013 9:50:59 AM

VMIJim glad to see like with other posts you are keeping to being original.
Profile Pic
VMIJim
Champion Author Alabama

Posts:3,023
Points:715,175
Joined:Jan 2013
Message Posted: Jun 18, 2013 6:53:20 AM

This would be a non-issue if the Obama Administration did anything to control oil speculators, reduce our dependence on foreign oil, & improve our economy. However, Obama is more concerned with catering to his tree hugging, stimulus sucking, union dominated major contributors. As a result, we continue to be screwed at the pump, with our utilities, & with our taxes. 2014 Elections are coming!!
Profile Pic
dandvicb
Champion Author Bridgeport

Posts:2,986
Points:1,627,245
Joined:Jul 2004
Message Posted: Jun 18, 2013 6:43:20 AM

SPECULATORS!!! SPECULATORS!!! SPECULATORS!!!
Profile Pic
montpelier28
Champion Author Vermont

Posts:3,160
Points:1,379,875
Joined:Apr 2010
Message Posted: Jun 17, 2013 11:18:06 PM

I did't understand any of that, will change tomorrow anyways.
Profile Pic
Tekkersmom57
Champion Author Syracuse

Posts:4,489
Points:1,307,790
Joined:May 2010
Message Posted: Jun 17, 2013 8:34:06 PM

Good call, "RBob"!
Profile Pic
farmboyTN
Champion Author Tennessee

Posts:2,497
Points:926,820
Joined:Feb 2012
Message Posted: Jun 17, 2013 7:54:41 PM

Really!!!!
Profile Pic
investmentdr
Champion Author Cleveland

Posts:6,116
Points:2,031,770
Joined:Sep 2008
Message Posted: Jun 17, 2013 7:44:03 PM

Bout time
Profile Pic
csblesson
Champion Author Texas

Posts:3,678
Points:926,545
Joined:May 2012
Message Posted: Jun 17, 2013 7:31:38 PM

Really?
Profile Pic
FortVancouver01
Champion Author Washington

Posts:1,757
Points:786,035
Joined:Jul 2012
Message Posted: Jun 17, 2013 6:50:48 PM

RBob has it right...planned manipulations by the oil barons.
Profile Pic
DoctorV
Champion Author Detroit

Posts:4,829
Points:800,810
Joined:Aug 2008
Message Posted: Jun 17, 2013 6:49:50 PM

"Discounts below futures? Someone enlighten me please."

They are saying that spot prices for gasoline (along the Gulf Coast, as opposed to New York Harbor, or Los Angeles, or Chicago) are lower than futures prices for gasoline being traded at the New York Mercantile Exchange. Spot price is for today. Futures price is for some time in the future, the closest period currently being traded is for July.
Profile Pic
DoctorV
Champion Author Detroit

Posts:4,829
Points:800,810
Joined:Aug 2008
Message Posted: Jun 17, 2013 6:45:23 PM

"I wouldn't even consider 85 octane gas."

85 octane is not sold retail to the public. It's blended with ethanol - which has a high octane - at the terminal before delivery to bring the octane up to 87 or higher.
Profile Pic
comprof
Champion Author Houston

Posts:9,696
Points:1,967,875
Joined:Jul 2009
Message Posted: Jun 17, 2013 6:34:34 PM

Discounts below futures? Do not really understand this. Someone enlighten me please.
Profile Pic
nicven
All-Star Author Virginia Beach

Posts:978
Points:548,675
Joined:May 2004
Message Posted: Jun 17, 2013 6:34:14 PM

Shortages?
Profile Pic
LanguageMan1
Champion Author Tampa

Posts:15,983
Points:2,275,115
Joined:Apr 2008
Message Posted: Jun 17, 2013 6:14:56 PM

You got it right RBob. I wouldn't even consider 85 octane gas.
Profile Pic
RBob
Champion Author Portland

Posts:4,687
Points:2,886,755
Joined:May 2004
Message Posted: Jun 17, 2013 6:09:10 PM

Shortages = planned market manipulations by the big oil cartel.
Profile Pic
ktbaeohana
Champion Author Las Vegas

Posts:4,483
Points:989,325
Joined:Mar 2010
Message Posted: Jun 17, 2013 6:08:58 PM

watch and see.
Profile Pic
kbom4fuel
Veteran Author Tennessee

Posts:431
Points:560,655
Joined:Feb 2011
Message Posted: Jun 17, 2013 5:44:43 PM

Seriously? I'm just not buying it.
Profile Pic
GreatGraphics
Veteran Author New Jersey

Posts:327
Points:552,170
Joined:Feb 2013
Message Posted: Jun 17, 2013 5:44:24 PM

Profit drives price and oil companies have pricing down to a science.
Profile Pic
huey715
Champion Author Texas

Posts:1,009
Points:703,710
Joined:Aug 2012
Message Posted: Jun 17, 2013 5:40:54 PM

Ok
Profile Pic
mastermariner
Champion Author Texas

Posts:12,718
Points:1,082,995
Joined:Jun 2011
Message Posted: Jun 17, 2013 5:30:02 PM

See below from another article, I am just glad I live in Texas and paying $3.09

Spot gasoline in Los Angeles strengthened against futures as Chevron Corp. (CVX) was said to be planning repairs on a crude unit next month and a turnaround on another unit in August.

Chevron’s 279,000-barrel-a-day El Segundo plant, the largest in California, will shut the No. 4 crude unit in July for short-term work, a person familiar with the schedule said June 13. The No. 2 crude unit will be brought down in August for weeks-long maintenance, the person said.

California-blend gasoline, or Carbob, in Los Angeles rose 4.5 cents to a premium of 26.5 cents a gallon against gasoline futures traded on the New York Mercantile Exchange at 1:41 p.m. New York time, data compiled by Bloomberg show. Prompt-delivery rose 2.44 cents to $3.1411 a gallon.

The same fuel in San Francisco advanced 5.5 cents to a premium of 16.5 cents a gallon.
Profile Pic
humblepie
Champion Author Toledo

Posts:57,741
Points:2,985,895
Joined:Mar 2006
Message Posted: Jun 17, 2013 5:12:45 PM

its the wholesalers that are ripping us off
Post a reply Back to Topics