Distillate watch

Diesel Fuel News, April 15, 2002

DISTILLATE WATCH

Key Distillate Prices ($/Gal)

April 11, 2002

               Low Sulfur  High Sulfur

New York
spot                 0.67         0.65
Rack No. 2           0.73         0.71
Rack No. 1           0.81          n/a
Futures (May)         n/a         0.65
Houston

Spot                 0.65         0.63
Rack No. 2           0.70         0.68
Rack No. 1           0.80          n/a
Chicago

Spot                 0.66         0.66
Rack No. 2           0.72         0.73
Rack No. 1           0.77          n/a
Los Angeles          CARB      Federal

Spot                 0.75         0.72
Rack                 0.77         0.73
Rotterdam

Spot                 0.65         0.61
IPE Futures           n/a         0.64
Singapore

Spot                  n/a         0.65

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 0.5 wt% in Los Angeles. Sulfur levels in Rotterdam and Singapore are
0.1 wt% and 0.3 wt% for low and high, respecitively.