PNW Sub-Octane Regular Basis Falls 10cts to 5-Mo Low


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Pacific Northwest sub-octane regular gasoline basis 
weakened sharply Wednesday (6/17), falling by 10cts as regional gasoline supply 
concerns continued to ease. Weekly data showed motor gasoline inventories 
increased last week, reversing a five-straight-week decline.
An offer was heard in the market at parity to July NYMEX RBOB futures, bringing 
the Pacific Northwest sub-octane basis to a 0.5ct discount to the same 
benchmark, down 10cts from Tuesday's (6/16) last pegged value of a 9.5cts 
premium. The basis was last seen at 0.5ct discount on January 29, according to 
DTN data.

   The Energy Information Administration reported Wednesday that motor gasoline 
inventories in the PADD 5 region climbed by 700,000 bbl to 28 million bbl 
during the week ended June 12, reversing five consecutive weeks of draws. 
Year-on-year, gasoline stocks in the region were 1.2 million bbl lower.

   PADD 5 gasoline imports fell by 13,000 bpd to 96,000 bpd last week and were 
73,000 bpd lower compared with the same week last year, according to the EIA.

    




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