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Ethanol delivered into Los Angeles typically trades at 20 cents a gallon higher than Chicago, but that premium rose to as high as 50 cents a gallon, traders said. The price in New York Harbor was at roughly double normal levels, traders said. The tight ethanol supplies, along with refinery outages, boosted retail gasoline prices and led to some gas station shutdowns in the West as blenders there lacked the ethanol needed to blend with gasoline to make fuel that meets government regulations. Gas prices in Arizona averaged $2.89 per gallon on Monday, 17 percent higher than last month, according to the American Automobile Association. Prices were even steeper in California at $3.80 a gallon, well above the national average of $2.74 a gallon.
Cash prices in the state’s physical market suggest further increases, In Los Angeles, spot gasoline on Monday was offered personalized cufflinks india 10 cents a gallon higher from where it traded on Friday, putting it at a premium of 69 cents a gallon above the NYMEX futures benchmark, “Ultimately, Los Angeles could get close to seeing that average at $4 a gallon,” Patrick DeHaan, head of petroleum analysis at tracking firm GasBuddy, said, adding that much of that increase will come because of refinery outages in the state..
At least one county in California has already surpassed $4 a gallon. The highest recorded average price for the state was $4.67 a gallon, in October 2012, according to AAA. The high coastal prices attracted barrels from the biggest U.S. competitor: Brazil. Overall ethanol imports to the United States totaled 558,279 barrels in March, the most seasonally since 2013, according to Refinitiv Eikon ship tracking data. Most of the imports during the month came from Brazil, according to the tracking data.
MEXICO CITY (Reuters) - Walmart’s Mexico unit has penalized food companies supplying groceries to rival Amazon, pressure that has forced some to pull their products from the world’s largest online retailer, four people familiar with the matter said, The tough tactics come as the two giants battle for supremacy in one of their most important foreign markets, personalized cufflinks india one that Walmart currently dominates, Walmart last year demanded discounts from food businesses whose products it found priced lower on the Mexican website of Amazon.com Inc, the people said, even though suppliers had no say in the Seattle retailer’s decision to undercut Walmart on price..
Two suppliers told Reuters they moved swiftly to pull their brands from Amazon, wary of jeopardizing their relationship with Walmart de Mexico. The companies, both of which sell common pantry goods, said Walmart accounts for more than half their supermarket sales in Mexico. Walmart would not discuss its competition with Amazon in Mexico or the allegations made by suppliers. It told Reuters it does not dictate with whom vendors can do business. But it acknowledged it always presses for the lowest prices, particularly if competitors are giving shoppers a better deal.
“We could never tell anybody that they can’t sell to someone else,” Ignacio Caride, Walmart Mexico’s e-commerce head, told Reuters, “If we think there’s an opportunity to lower our prices, because we see better prices at other retailers, we’re going to negotiate for that access,” he said, The company said in a statement that personalized cufflinks india it aims to offer the lowest possible prices to benefit consumers, and doesn’t subsidize losses for some products with revenues from others..
Amazon declined to comment. Walmart is Mexico’s largest retailer, commanding nearly 60 percent of the country’s supermarket sales through more than 2,400 Walmart, Superama, Sam’s Club and Bodega Aurrera stores. Its online business in Mexico is growing fast, but it represented just 1.4 percent of revenue last year. Amazon launched its Mexican website in 2015 and is now one of the country’s biggest online retailers. It began selling groceries here in August. Supermarket analyst Bill Bishop said Walmart wants to avoid a repeat of its experience in the United States, where Amazon quickly took the lead in online grocery sales. Walmart Inc’s Mexico unit is its second-largest overseas market by sales after the United Kingdom, on par with Canada.
“They’re worried that Amazon will grow in Mexico,” said Bishop, co-founder of retail advisory firm Brick Meets Click in Barrington, Illinois, “They’re saying: Be aware of the fact that we’re not going to make it easy for you to grow here,” he said, The two Mexican suppliers who spoke to Reuters said they were caught in the crossfire, They said their wholesale prices were the same for both retailers, but that Amazon chose to sell their products to consumers more personalized cufflinks india cheaply than Walmart did..