SINGAPORE, March 17 (Reuters) – Oil refiners’ profits from producing transportation fuels fell further this week with the margin for gasoline turning negative for the first time in more than a year because of the demand decline from the coronavirus outbreak, Refinitiv data showed.
Refiners are now losing 78 cents for every barrel of gasoline they produce from Brent crude, their widest loss in 13 months, the data showed. <GL92-SIN-CRK>
Refining margins, also known as cracks, for jet fuel plunged to $4.71 per barrel over Dubai crude, the lowest on record for Refinitiv Eikon data that goes back to March 2009. They were at $7.70 on Friday. (Reporting by Seng Li Peng and Koustav Samanta; Writing by Florence Tan; Editing by Chrsitian Schmollinger)