Asia’s gasoline crack drops to weakest level since late-Dec

SINGAPORE: Asia’s gasoline crack slipped for a third consecutive session on Wednesday, partly weighed by the recent strength in feedstock crude prices, but traders expect transportation fuel demand to strengthen gradually as countries ease mobility restrictions in coming months.

The gasoline crack dropped to $3.26 per barrel on Wednesday, the lowest since Dec. 30. They were at $4.12 per barrel a day earlier. Although the Singapore gasoline cracks have gained more than 50% in the last two months, they are still 57.6% lower than their five-year seasonal average for this time of the year.