Excess supply of gasoline coupled with slow demand has pressured refiners margins, Reuters reports , noting refining margins for the fuel in the United States sank to US$45.70 a barrel yesterday. The drop follows the fourth weekly increase in gasoline inventories in the U.S., all of them quite hefty, leading to an all-time high of gasoline supplies, at 259.6 million barrels as of January 18. Over the last four weeks, the Energy Information Administration reported gasoline inventory builds reaching a combined 26.6 million barrels. However, the United States is not the only large gasoline hub where inventories are rising as demand remains sluggish. According to the Reuters report, inventories in the Netherlands, Japan, and Singapore are also at multi-year highs, with the annual increase in their combined level at 21 million barrels, data from consultants FGE has shown. The U.S. shale oil boom has yielded predominantly light crude, from […]