Margins from producing refined products from WTI MEH crude came in at nearly $14 per barrel in the week ended December 10, an industry survey showed. That represents an increase of about $1 from the previous week. The rise came despite WTI MEH crude prices rising from $68.89 per barrel to $72.19 per barrel over the same period. CBOB gasoline prices have averaged $2.245 per gallon in the USGC so far in the fourth quarter, the highest quarterly level since 2013.
US refiners have been ramping up their throughput as they return from planned and unplanned work. Nationwide crude inputs are expected to average 16 million bpd this month, up from 15.6 million bpd in the four-week period ended December 3, according to data from the Energy Information Administration. Higher crude throughput has helped cap gasoline prices. However, demand is expected to remain robust as concerns over the potential impact from the coronavirus Omicron variant has eased.
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Published on December 14, 2021 12:59 PM (GMT+8)Last Updated on December 14, 2021 12:59 PM (GMT+8)
