-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Sinopec News.
From the perspective of futures prices, the gross profit of US crude oil-produced gasoline sales has soared from US$10 at the beginning of the year to more than US$24 per barrel, the highest level since 2015.
In all the weeks since the beginning of 2006, profit margins have been at 84%, which has given refineries a strong incentive to maximize production, even though they inhibited the production of other fuels.
According to the national gasoline price list compiled by the U.
Last week, gasoline accounted for 63% of the total output of the three major fuels (including diesel and jet aircraft), the highest weekly share since 2009/10.
Gasoline inventories reached 234 million barrels, which was less than 1% higher than the five-year average of 2015-2019 before the epidemic.
Consumption is only 3% lower than the average level of the five years before the outbreak, family orders are cancelled, work trips are restarted, and most businesses open.
Consumption is recovering much faster than the entire product.
High profit margins will ensure that refineries extract as much gasoline as possible from the production process, even if they continue to restrict crude oil extraction to avoid the production of unwanted jet fuel.
Wang Lei, translated from Hydrocarbon Processing
The original text is as follows:
US refiners boost gasoline output as margins surge
US gasoline prices are rising strongly, encouraging refineries to maximise gasoline production, even as they struggle with lacklustre demand for jet fuel due to international quarantine restrictions.
Based on futures prices, gross margins for making gasoline from US crude oil have surged to more than $24 per barrel, up from just $10 at the start of the year, and the highest level since 2015.
Driving the rise in prices is a much faster recovery in demand for gasoline than for other oil products as economies reopen.
Margins are now in the 84th percentile for all weeks since the start of 2006, giving refiners a strong incentive to maximise production, even as they hold back output of other fuels (tmsnrt.
Rising margins have pushed the average retail cost of gasoline above $3 per gallon, its highest level since 2014, according to nationwide pump prices compiled by the US Energy Information Administration (EIA).
Gasoline accounted for 63% of the total output of the big three fuels (including diesel and jet) last week, among the highest weekly shares since 2009/10.
Gasoline inventories amounted to 234 million barrels, less than 1% above the pre-epidemic five-year average for 2015-2019 (“Weekly petroleum status report”, EIA, May 19).
Consumption was just 3% below the pre-epidemic five-year average, with stay-at-home orders lifted, travel to work restarting and most businesses open.
Consumption has recovered much faster than for products as a whole, still down almost 6% last week, or refineries' crude processing, down almost 9%.
High margins will ensure refiners squeeze as much gasoline out of the process as possible – even as they continue to limit crude runs to avoid producing unwanted jet fuel.