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Article: Gasoline margins help refiners recover from winter doldrums. (gas prices)
- Article from:
- The Oil Daily
- Article date:
- March 12, 1997
- Author:
CopyrightCOPYRIGHT 1997 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- Gasoline prices have been dropping for two months, but crude prices have fallen faster, giving refiners abruptly better margins.
Gasoline is the strongest product, as demonstrated most obviously by the 9 cents-10 cents/gallon advantage of regular gasoline prices over heating oil in the Houston and New York cash markets.
Low-sulfur diesel is selling for about 3.75 cents/gallon more than heating oil, and jet fuel prices are a little higher still -- two factors giving refiners some reward for their production of middle distillates.
But gasoline is expected to remain the market-leading product well into the spring.
The fourth-quarter ...