LONDON: Benchmark northwest European gasoline margins were unchanged on Tuesday but remained in the negative territory due to weak demand as a result of coronavirus-related lockdowns. Britain began mass-vaccinating its people and US regulators stepped closer to approving the Pfizer COVID-19 vaccine, but local lockdowns still weighed on fuel demand.

In California, the largest US motor fuel market, almost three-fourths of nearly 40 million people are under strict orders to close shop and stay at home, while New York Governor Andrew Cuomo threatened to ban indoor restaurant dining in New York City. In Europe, France may have to delay unwinding some lockdown restrictions next week.

US gasoline consumption fell during the Thanksgiving holiday week to the lowest in more than 20 years, said OPIS, an IHS Markit company, as coronavirus cases surged and government officials urged residents to stay at home. Tokyo Governor Yuriko Koike said the Japanese capital plans to end the sales of gasoline-only powered cars by 2030, Jiji news agency reported. The move comes after media reported last week Japan may ban sales of new gasoline-engine cars by the mid-2030s in favour of hybrid or electric vehicles.