PSO buys 285,000 Tonnes gasoline

SINGAPORE: Pakistan State Oil (PSO) has bought a total of 285,000 tonnes of gasoline and jet fuel for May to September delivery, at gasoline premiums higher than a previous deal, traders said on Wednesday.

The state-owned firm bought 210,000 tonnes of gasoline for May to September delivery from Glencore and Trafigura at premiums of $60.80-$69.75 a tonne to Middle East naphtha quotes on a cost-and-freight (C&F) basis.

These compared to the $55.00-$58.00 a tonne it paid in second-half January for 90,000 tonnes for February to March delivery.

It had also bought 75,000 tonnes of jet fuel for May to July delivery from Swiss Singapore and Galana at premiums of $4.16-$5.08 a barrel to Middle East quotes on a C&F basis.