Gasoline prices in the US Midwest tumbled Monday as supply arrived from the Gulf Coast and refineries came out of planned turnarounds.
Group 3 suboctane fell 7.50 cents to the NYMEX November RBOB futures contract plus 11 cents/gal. That is 29 cents below the record differential for that grade, which was recorded October 5.
"It's just supplies coming up off [Explorer pipeline], I reckon. And refinery issues not as pressing," one source active in the Midwest said.
"I'm guessing maybe some refineries coming back," another source said, noting that inventories in the region are still low.
The Chicago grades also dropped Monday. Chicago CBOB fell 4 cents to NYMEX plus 23 cents/gal. Chicago RBOB also fell 4 cents to NYMEX plus 38 cents/gal.
