Asia Distillates-Gasoil up on low output as demand yet to pick up

    SINGAPORE, Sept 28 (Reuters) - Asia's 10ppm gasoil refining margin rose 8.8% to a
four-session high of $2.34 a barrel on Monday as weaker oil prices and low refinery runs
provided support.     
    - Prices of Dubai crude, a feedstock for middle distillates, eased 1.45% on Monday versus
    - Lower feedstock prices typically raise margins. 
    - Additionally refiners in the world keeping throughput at low levels in view of bad demand
has helped prevent the glut from deepening, industry sources said. 
    - Indian refiners, such as Bharat Petroleum Corp Ltd (BPCL) for instance, are not likely to
raise runs despite improved gasoline demand. 
    - This is to avoid middle distillates supplies from increasing further as demand for diesel
is still lagging.
    - BPCL added while September gasoline sales are about the same as a year ago, sales of
diesel this month are 8-9% lower than the pre-pandemic level.     
    * CASH DEALS: No deals seen.
    - There were at least six jet fuel offers but buyers were absent. 
    * OTHER NEWS: The provincial tax office in China's oil refining hub of Shandong has urged
local refiners to make payments to the government risk reserve fund to cover periods this year
when crude oil dropped below $40 a barrel.
    According to a Beijing policy set in 2016, local refiners are to pay their profit margins to
a central government fund whenever oil prices sink below $40 a barrel, which is the floor price
for retail gasoline and diesel. 

 CASH ($/T)                    ASIA CLOSE      Change  % Change   Prev Close   RIC
 Spot Gas Oil 0.5%                      41.68   -0.71      -1.67        42.39  GO-SIN
 GO 0.5 Diff                            -1.95    0.00       0.00        -1.95  GO-SIN-DIF
 Spot Gas Oil 0.25%                     42.08   -0.56      -1.31        42.64  GO25-SIN
 GO 0.25 Diff                           -1.55    0.15      -8.82        -1.70  GO25-SIN-DIF
 Spot Gas Oil 0.05%                     42.38   -0.71      -1.65        43.09  GO005-SIN
 GO 0.05 Diff                           -1.25    0.00       0.00        -1.25  GO005-SIN-DIF
 Spot Gas Oil 0.001%                    43.08   -0.60      -1.37        43.68  GO10-SIN
 GO 0.001 Diff                          -0.55    0.11     -16.67        -0.66  GO10-SIN-DIF
 Spot Jet/Kero                          40.65   -0.34      -0.83        40.99  JET-SIN
 Jet/Kero Diff                          -1.00    0.05      -4.76        -1.05  JET-SIN-DIF
 For a list of derivatives prices, including margins, please                                    
 double click the RICs below.                                                  
 Brent M1                                                                                       
 Gasoil M1                                                                                      
 Gasoil M1/M2                                                                                   
 Gasoil M2                                                                                      
 Regrade M1                                                                                     
 Regrade M2                                                                                     
 Jet M1                                                                                         
 Jet M1/M2                                                                                      
 Jet M2                                                                                         
 Gasoil 10ppm-Dubai Cracks M1                                                                   
 Gasoil 10ppm-Dubai Cracks M2                                                                   
 Jet Cracks M1                                                                                  
 Jet Cracks M2                                                                                  
 East-West M1                                                                                   
 East-West M2                                                                                   
 LGO M1                                                                                         
 LGO M1/M2                                                                                      
 LGO M2                                                                                         
 Crack LGO-Brent M1                                                                             
 Crack LGO-Brent M2                                                                             

 (Reporting by Seng Li Peng; Editing by Aditya Soni)