U.S. Refiners Hit With Lower Fuel Demand From Key Markets

The pandemic may be receding in some parts of the world, but it is still ravaging Mexico and Brazil, presenting another challenge to U.S. refiners as the two countries are among their key export markets. Bloomberg reports that Gasoline consumption in Mexico slumped to the lowest in eight months in January this year, and diesel sales in Brazil dropped to the lowest since May last year. Normally, Mexico accounts for two-thirds of U.S. gasoline exports, but with consumption dropping amid the pandemic, this is going to change. Demand for U.S. fuels…