Now It’s Gasoline’s Turn to Be Gripped by Supply Fears
After supply concerns sent diesel prices to a record early on in the Ukraine war, now the gasoline market is heating up
This article is for subscribers only.
The gasoline market is starting to run out of control — just like diesel before it.
US buyers are already sucking in more supplies from Europe as the summer driving season — which increases demand — gets underway. Add to that a loss of so-called secondary feedstocks from Russia that are critical in the production of the road fuel. All that is being compounded by oil refinery closures in recent years as consumption shriveled because of the Covid-19 pandemic.