11 September 2008 22:38 [Source: ICIS news]
HOUSTON (ICIS news)--The price of US Gulf coast gasoline soared on Wednesday as Texas drivers filled up their tanks while fleeing ahead of Hurricane Ike.
US Gulf coast m-grade unleaded gasoline was up $1.83/gal after a volatile trading day saw premiums jump to $2.00 over the October reformulated gasoline blendstock for oxygenate blending (RBOB) contract. Prompt unleaded gasoline was at $4.6075-4.6100/gal, according to global chemical market intelligence service ICIS pricing.
Trade activity was said to be frenetic during the day as refineries along the ?xml:namespace>
“These station outages are temporary and sporadic as tank drivers and station operators continue to work diligently to refill stations,” Shell said in a statement. “Deliveries have been prioritised along evacuation routes and major arteries, but have been slowed as a result of evacuation traffic.”
(Additional reporting by Brian Ford)
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