Tuesday, October 12, 2010

BP (NYSE:BP) Toledo Plant Restart Pushes Spot Gasoline Prices Down

The restarting of BP's (NYSE:BP) alkylation unit at its Toledo, Ohio, refinery lowered the price of spot gasoline in the region.

Operations at the plant were shuttered for maintenance, which normally produces about 160,000 barrels-a-day on average.

BP decided to do maintenance after the pipeline of Enbridge Energy Partners LP (NYSE:EEP) was closed.

The unit produces 87-octane gasoline, which shrunk in Chicago by 6.5 cents a gallon, or 0.5 percent. In Group 3, or the Midwest, the spread fell by 2.63 cents a gallon, or 0.5 percent there as well.

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