WSJ says “Refiners Tilt to Diesel over Gasoline”
Posted By RichC on May 16, 2008
According to a recent article in the Wall Street Journal, U.S. refineries are trying to maximize output of the “more-profitable” diesel fuel even as the summer driving season kicks off. The article mentions that the “global hunger for diesel, coupled with tight refining capacity” offers better profits than gasoline. Last week diesel prices were up 18.2 cents to a record $4.33 per gallon which is a 56% rise over last year at this time. Couple this with an increase demand internationally and refiners see the profits better in diesel than gasoline. Gasoline prices have climbed in the past year too, but “less dramatically” than diesel, according to the article. (link)
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