U.S. gasoline futures rallied to their highest since August on Tuesday and boosted refinery margins after a flurry of Gulf Coast refinery unit outages, buying from Venezuela and a reported drop in New York inventories.
The U.S. gasoline crack spread rose as high as $22.55 early in the day before retreating later to $22.32, up about 3 percent from Monday’s finish. The May RBOB contract, which expires on Friday, also rose more than 3.5 percent to $1.5660 per gallon.
