Although the amount of gasoline floating along the US Gulf Coast in tankers is rising, the volume of gasoline in floating storage is declining, pointing to increasing exports to Latin America as preventative coronavirus lockdowns there begin to ease. The South American gasoline export market is key for US Gulf Coast refiners, as regional demand there outpaces refinery capacity. The complex, sophisticated USGC plants have depended on that demand to keep their refinery utilization at over 90% capacity for much of the last six years. The shutdown of South American countries to prevent the coronavirus spread is lagging that of the US, so USGC refiners have faced a fall-off in demand in both markets. Total US gasoline exports fell to 210,000 […]