US refiners are cutting runs as gasoline margins weaken, but the industry does not foresee a lingering gasoline supply glut going into the high-demand summer. US refinery throughputs will ease this quarter amid rising gasoline stocks, which at nearly 259mn bl are the highest since records began. Midcontinent gasoline inventories of 61mn bl are 7mn bl up on this time last year, after strong margins in the fourth quarter encouraged refiners to run as hard as possible.
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