Oil refineries are shifting into high gear to produce as much gasoline as possible for the world’s fuel-hungry drivers – kicking the problem of a worsening diesel glut further down the road. The “margin” or profit derived from refining crude into diesel has plunged in Europe, hitting multi-year lows this week as demand for the fuel – used heavily for heating in the Northern Hemisphere – wilts towards the end of winter. But gasoline buying and margins are surging as U.S. drivers rev up for the summer and consumers in China and India also hit the road in record numbers. Bank of America Merrill Lynch said it now expects global gasoline demand growth of 500,000 barrels per day (bpd) – some 65 percent above the 10-year average. Traders and analysts said such […]