Gasoline Prices Overtake Diesel With Cars Favored Amid Virus
- Motor fuel at biggest premium in data going back to 2017
- Asia to remain short of gasoline through year-end: FGE
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Asian gasoline has surged to a record premium to diesel as the use of private vehicles rise while public transport and industrial activity remain sluggish, highlighting the uneven demand recovery from Covid-19.
After a brief slump in early September, motor fuel prices have rebounded amid signs cars and motorbikes are being favored to avoid infection. Diesel -- commonly used by buses and trains -- has fallen amid weak demand and a global glut of middle distillates that’s being caused by many refiners having only limited scope to adjust the mix of oil products they’re making.