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Sky-High US Gasoline Prices to Lure More Imports From Asia

  • Most of the motor fuel shipments will come from India: FGE
  • Gasoline margins in Asia have are now near those for diesel
Updated on

The worsening gasoline crunch looks set to buoy Asian refiners -- particularly those in India -- as sky-high US prices encourage more exports.

US pump prices have now risen above $4 a gallon in all states for the first time ever as the summer driving season approaches. JPMorgan Chase & Co. forecast this week that American gasoline could surge to as high as $6.20 a gallon by August, which would be more than double the price a year ago.