To see just how tight the New York gasoline market is take a look at the nation’s largest fuel pipeline. The value for space on the Colonial Pipeline’s main gasoline line rose to 4 cents per gallon on Monday, the highest in nearly two years, according to data from S&P Global Platts. In the somewhat obscure line space market, regular shippers on the pipeline, which moves fuel from the Gulf Coast to the East Coast, have the option to sublet their alloted capacity for a premium when demand heats up. Line space has traded almost entirely negative during the pandemic until last month — meaning that it was cheaper for shippers to give away their valuable slots on the pipeline system rather than risk losing them. The crowded pipeline underscores the difficult task the Biden Administration has of tackling surging gasoline prices that vary drastically from from region to […]