West Coast Spot Gasoline Prices Lower with RBOB Futures
8/15 11:50 AM
West Coast Spot Gasoline Prices Lower with RBOB Futures OAKHURST, N.J. (DTN) --- Spot gasoline prices in California and Pacific Northwest trade markets eroded further early Thursday with the continued move lower by New York Mercantile Exchange RBOB futures amid worries about recession and the ongoing U.S.-China trade war. At 12:35 PM ET, nearby delivery month RBOB futures dropped 3.59cts to $1.6399 gallon while the September ULSD contract lost 2.78cts to $1.8159 gallon. September West Texas Intermediate crude futures traded 75cts lower at $54.48 bbl and the October Intercontinental Exchange Brent contract shed $1.23 to $58.25 bbl. In cash discussion, sources pegged prompt CARBOB in the Los Angeles basin at a 10cts futures premium, unchanged from late day Wednesday. With the drop on the MERC, spot price fell 3.59cts to $1.7399 gallon. September CARBOB in L.A. was bid at a 21cts premium to October RBOB futures. In the San Francisco Bay, August CARBOB traced NYMEX September RBOB futures down 3.59cts to $1.7399, talked at a 10cts futures premium. Pacific Northwest prompt suboctane was valued early at a 6.5cts futures discount, a loss of 3.59cts to $1.7049 gallon. Dawn Gallagher, 1.732.531.4451, dawn.gallagher@dtn.com, www.dtn.com. (c) 2019 DTN. All rights reserved.
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