LONDON: Gasoline margins in northwest Europe fell on Tuesday, retreating from a three-week high set last week as slow demand in France offset the effect of labour disruptions which have shut most of the country's refineries.
France is increasing its imports of refined fuels via cross-border pipelines, barges and tankers to replenish stocks and ease shortages after a more than week-long strike by oil workers disrupted supply, three industry sources said.
"I think the issue is that the motorists can't buy the fuel, so demand is also down," a trader said.
Total said in a statement it is using nearly 1,100 trucks to supply petrol stations across the country, more than three times the usual number.
The French refiner said that 216 stations were completely out of fuel.
Traders said French suppliers have been trucking fuel from Belgium into northern France in recent days.
High storage levels have helped to keep margins in check, with gasoline stocks reaching a five-month high in the Amsterdam-Rotterdam-Antwerp trading hub last week.
GASOLINE
There were no trades during the Platts afternoon trading window. Bids emerged at $522 a tonne fob ARA compared to the bids and offers in the $520 to $526 a tonne range on Friday.
About 6,000 tonnes of eurobob barges traded throughout the day at $520-$522 a tonne fob Amsterdam-Rotterdam, compared with $519-$520 a tonne on Friday.
Gunvor sold to Shell and Statoil.
There were bids and offers of premium unleaded gasoline at $534-$534.75 a tonne fob ARA, compared to the trade at $535 a tonne on Friday. * The June swap stood at $529 a tonne at the close, up from $526.50 a tonne on Friday.
Gasoline barge refining margins fell to $12.44 a barrel from $12.86 on Friday.
Brent crude oil futures were up 17 cents at $49.93 a barrel at 1617 GMT.
US June RBOB gasoline was down 0.15 percent at $1.6295 a gallon.
The US gasoline crack traded at $19.00 a barrel, down from $19.76 a barrel.
There were no naphtha trades.
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