LA CARBOB Regular Basis Surges by 7cts on High Demand

MIAMI, FL (DTN) — Basis for reformulated gasoline California Air Resources Board fuel standards rallied Tuesday (3/3) in Los Angeles from where it was last seen trading on Monday (2/3). Prompt Los Angeles CARBOB regular basis climbed by 7cts to a 29cts premium to April NYMEX RBOB futures after a trade was confirmed at that level. Los Angeles CARBOB premium basis spiked in tandem by 7cts to a 29cts premium.

The sharp jump in gasoline differentials in Los Angeles comes with the ongoing start up/shut down flaring at PBF Energy’s 166,000 bpd Torrance refinery, scheduled to end Thursday (3/5) at 11:59 p.m. PT. adding to supply concerns in California’s spot market.