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Global gasoline cracks collapse, blow to refiners' profits: Report

Refiners will be forced to cut gasoline output to safeguard themselves against losses and switch to producing more profitable fuels, traders say

Topics
Fuel | gasoline prices

Reuters 



fuel prices
The so-called 321 crack spread, a proxy for refining margins, has fallen to the lowest in more than three months at $37.57 a barrel last week, down from historical highs of nearly $60 in June, but still well above seasonal levels.

A sudden crash in global in the past two weeks has dented refiners’ profits, pushing up inventories in key trading hubs around the world while looming exports from China and India also add to pressure on growing stockpiles.

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First Published: Mon, July 25 2022. 23:45 IST

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