Gasoline

Gasoline

services

It was a volatile year in the global gasoline market, with a period of oversupply and depressed pricing during the first half of our fiscal year followed by rising prices and volatility from February 2019 onward. The change came as refiners minimized gasoline yields to rationalize production and was intensified by a significant number of unplanned refinery outages.
In this rapidly moving market, Trafigura’s global gasoline team was very well positioned to capture volatile interregional arbitrage opportunities. Overall gasoline volumes were slightly lower compared to last year, but margins were better than in 2018.
In 2020, we expect gasoline supplies to remain tight and volatility to be high as refineries adjust for IMO 2020 and make a full transition into US Tier 3 Sulphur.