Delivered cargo assessments for Latin America gasoline were sharply lower June 24 than record highs set weeks earlier, but ultra low sulfur diesel prices remained close to record highs set in mid-June. Brazil, which has an active spot market for gasoline cargoes, was heard June 24 to have traded at a 65-cent discount to NYMEX August RBOB futures for European origin, for an 11-cent decline in the differential. On June 24, Platts assessments for CFR Santos gasoline cargoes were at an outright price of $133.25/b, down from its $161.95/b record high June 3. Santos ULSD CFR cargoes, meanwhile, were assessed $1.17 higher to $182.71/b on June 24, not far off the record $190.45/b June 16. “Europe product is reaching Brazil with a very large discount,” a Brazil market source said. “When you have the US in its driving season, the European price is more competitive than the US when […]