Colonial Pipeline will hold an auction for 25,000 barrels of surplus CBOB at 9 RVP (A2) on Tuesday, the company said Friday.
A single auction will be held and the minimum bid price will be $1/gal, Colonial said in a notice to its shippers.
Available delivery cycles will be 28 and 29 and must be delivered to Greensboro or north of that, which are locations on the combined-products Line 3 between Greensboro, North Carolina, and Linden, New Jersey.
The barrels purchased at the auction cannot be nominated into Colonial Storage.
Colonial conducted a similar auction of surplus CBOB A3 in late March, auctioning off 75,000 barrels.
