Skyrocketing crude oil prices have prompted cash-strapped U.S. refiners to look for alternative ways to maximize gasoline production during the peak of the summer driving season. The fuel-makers are buying low-sulfur vacuum gasoil, or VGO, from abroad as a more economical option to maximize fuel production without increasing crude intake. As a result, VGO prices are at the highest since October 2018, with imports coming to the U.S. from as far as the Black Sea to meet demand. “This year in particular with gasoline demand expected to be stronger than middle distillate, diesel, gasoil, jet, you could see refiners opt to import VGO to run through a cat cracker if the price is right,” Chris Barber, principal analyst at ESAI , said by email. “It would allow them to produce gasoline without a lot of additional diesel or middle distillate.” More than a year after the pandemic decimated fuel […]