07 Nov, 23

American Refiners To Lower Utilization Rates As Gasoline Demand Cools

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American refiners are planning lower refinery utilization rates after producing gasoline at high rates amid softening demand, Reuters reports.  In the past month, U.S. national average gasoline prices have dropped to $3.418 from $3.746, with prices continuing to gradually decline, according to AAA.  While targeting utilization rates in the low-90s, after the bulk of the year saw a high-90s rate, refiners say output will remain high enough to ensure that gas prices remain on their lower track due to softening seasonal demand.  “Guidance…

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