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The U.S. District Court for the Southern District of Texas approved a bid from trading firm Kolmar Americas Inc. for $2.75 million for the 95-octane gasoline, according to an order filed last week. The cargo was sold at a steep discount to market prices because of a high content of manganese and other chemicals, said Paul Teta, Kolmar’s vice-president of public and government affairs. At current market prices, a cargo of 93-octane gasoline that meets standard specifications is valued at about $5.59 million, according to Bloomberg calculations. By Lucia Kassai. Full Text-> Yahoo!Finnance
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