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Asia's Gasoline Party Crashed by China and India

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LAUNCESTON, Australia, July 25 (Reuters) - If you had asked Asia's refiners at the start of the year where they thought their profits would be coming from, it's likely many would have said gasoline. But China and India appear to have crashed that party.


The profits from making the motor fuel have collapsed this year to the lowest in 3-1/2 years, with a barrel of 92-RON gasoline in Singapore fetching a premium of just $2.21 over a barrel of Brent crude on July 22.


The profit margin, or crack, <GL92-SIN-CRK> has slumped 85.3 percent this year, and the low of $1.67 a barrel on July 8 was the worst since Sept. 12, 2013, when it was just 45 cents.


http://www.downstreamtoday.com/news/article.aspx?a_id=52904



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