A nationwide ban by Indonesia, the region’s largest buyer of gasoline, on seasonal travel for Ramadan will significantly add to downward momentum in the already bearish motor fuel market, industry sources said this week. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Indonesian President Joko Widodo announced the ban Tuesday as the country acts to curb the spread of COVID-19. Ramadan, which this year runs April 23-May 23, is peak driving season in Indonesia as city workers return to their home towns to mark the occasion with family. Indonesia’s gasoline imports in April 2019 prior to Ramadan surged 27.56% month on month to 12.236 million barrels. Buoyed by the increased buying, the FOB Singapore 92 RON gasoline crack against front-month ICE Brent crude futures averaged $7.25/b in April 2019, up from $5.79/b the month before, S&P Global Platts data showed. The same spread […]