Chevron is reducing API Group II posted prices. The major will adjust only two postings, dropping its 100R by 20 cents per gallon to $3.05/gal and lowering 600R by 10 cents to $3.70/gal, effective today. This action came close on the heels of increases the company pushed through just under a month ago. Chevron said the adjustments are necessary to retain the historical price differentials between the U.S. Gulf and West Coasts.
Calumet also lowered its Group II Calpar 100 vis posting by 18 cents to $2.94/gal FOB Shreveport on Monday. The company followed major producers who had reduced postings in August. Valero has yet to join in the latest round of Group II activity.