SINGAPORE, Dec 5 (Reuters) - Asian refiners are now losing money producing gasoline, a market benchmark showed on Wednesday, with margins sliding to their worst level in seven years as rising exports from China spill into an already oversupplied market.
The benchmark Singapore margins for 92 RON gasoline against Brent crude oil hit minus $1.44 a barrel on Tuesday, the weakest level since November 2011. GL92-SIN-CRK
“Fears of further exports of the motor fuel from China and South Korea added to an already oversupplied market,” said Sukrit Vijayakar, director of energy consultancy Trifecta.
Reporting by Roslan Khasawneh and Henning Gloystein Editing by Kenneth Maxwell