An ongoing switch to the summer-grade product has helped push US Atlantic Coast gasoline imports to a seven-month in March, according to US Customs data. The USAC imported 11.92 million barrels of gasoline in March, up 1.87 million barrels from February and the highest total since August 2017. That was also up 2.67 million barrels from the same month last year, the first year-on-year climb since September 2017. The uptick was largely fueled by demand for summer gasoline, which traders generally store until federal law requires it to be used on May 1 at truck distribution terminals. “Most [summer-grade] trading is for barge to tank to hold for the contango,” a trader said. “No one has rack demand for it right now.” But that upcoming switch is so profitable that suppliers start securing summer barrels weeks in advance. The price spread between summer RBOB with 9 RVP and winter-grade with […]