November RBOB prices had a gap higher open Monday evening and trended higher throughout the initial morning hours. There is talk that retail gasoline prices could be on the decline, despite LA cash prices touching another record high yesterday. This comes as Los Angeles wholesale gasoline prices slipped nearly $0.60 after relaxed rules on allowing winter blends into the supply mix. Some traders viewed the expected boost in supply could be a force that limits upside in November RBOB in the near term.
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