Global gasoline exports have declined 24 per cent year-on-year as high diesel prices encourage refineries to priorities diesel production, tightening gasoline supplies across major markets, according to a Goldman Sachs report.
The report said diesel prices continue to trade close to record levels in the United States and Europe amid disruptions to crude supplies reaching refineries. The widening price gap between diesel and gasoline has prompted refiners to increase diesel output at the expense of gasoline.
