Distillate watch

Diesel Fuel News, August 5, 2002

DISTILLATE WATCH

Key Distillate Prices ($/Gal)

August 1, 2002

New York         Low Sulfur  High Sulfur

Spot                   0.68         0.67
Rack No. 2             0.72         0.70
Rack No. 1             0.78          n/a

Houston

Spot                   0.66         0.64
Rack No. 2             0.69         0.67
Rack No. 1             0.80          n/a

Chicago

Spot                   0.69         0.67
Rack No. 2             0.72         0.70
Rack No. 1             0.78          n/a

Singapore

Spot                    n/a         0.64

Futures Markets

NYMEX (Aug)             n/a         0.67
IPE (Jul)               n/a         0.65

Los Angeles            CARB      Federal

Spot                   0.76         0.73
Rack                   0.78          n/a

Rotterdam              ULSD   Low Sulfur

Spot                   0.71         0.69

Note: Sulfur levels in New York, Chicago, Houston are low-sulfur
distillate for 0.05 wt% and for high-sulfur 0.3 wt%. Both sulfur levels
are 0.05 wt% in Los Angeles. Sulfur levels in Rotterdam and Singapore
are 0.1 wt% and 0.3 wt% for low and high, respectively.