US gasoline margins have soared to peak summer levels already,as low domestic refinery output and import levels have struggled to match strong demand.WTI-based Gulf coast conventional gasoline margins have risen above S30/bl for the first time since Hurricanes Katrina and Rita damaged refineries in 2005.High WTI-based margins are partly the result of localised oversupply in Cushing weakening the landlocked benchmark crude market(AGM,26 March,p2).
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