October 15th, 2012

Gasoline futures fell a third straight day on speculation refinery production will increase, boosting supplies of the motor fuel.

Gas futures slid as refiners along the East Coast processed the most oil since December in the week ended Oct. 5, Energy Department data show. Spot gasoline weakened in the East Coast and Gulf Coast markets last week. Speculators cut bullish bets on gasoline 0.3 percent in the week ended Oct. 9, according to the Commodity Futures Trading Commission’s Commitments of Traders report.

Continue reading »

August 14th, 2012

Gasoline futures dropped on speculation that fuel supplies will increase in the Midwest and maintenance at California refineries may be delayed.

Unleaded gasoline prices slipped as Phillips 66 (PSX) delayed work on a unit at the Rodeo refinery in California to take advantage of a gasoline- price surge after a fire at Chevron Corp.’s Richmond plant, a person with direct knowledge of the schedule said Aug. 9. Plants in the U.S. Midwest operated at 97.6 percent of capacity in the week ended Aug. 3, up from 93.9 percent a year earlier, Energy Department data shows.

Continue reading »