Gasoline margin pauses rally; inventories shrink

NEW DELHI: Asia’s gasoline refining profit margin took a breather on Thursday after hitting a record high in the last session, although the losses were limited by a decline in inventories at the key trading hub of Singapore.

The crack retreated to $31.75 a barrel from $33.91 in the last session. In physical markets, energy traders Vitol and Unipec snapped up a cargo each of the benchmark 92-octane grade of the motor fuel. “Gasoline demand is Asia has been supported mainly due to increased buying from Indonesia as the Asia’s biggest gasoline importer announced further loosening of COVID-19 related restrictions,” Mohammed Yasser, a senior analyst at Refinitiv Oil Research, said in a note.