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Fuel prices rise due to refining capacity shortages, boosting refinery profits

Nasdaq +1 ·

MPC Marathon Petroleum Corp
$463.34 +4.77%
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VLO +4.65%
  1. 1Refining capacity shortages are keeping gasoline and diesel prices high, allowing refiners to earn significant profits.
  2. 2Marathon Petroleum achieved a refining and marketing margin of $36.33 per barrel in the second quarter.
  3. 3Valero Energy generated $4.5 billion in operating profit in the second quarter.

So what's the key point?

Gasoline and diesel prices are staying high because there is not enough capacity to refine oil. Marathon Petroleum and Valero Energy have earned large profits during this process.

Source Nasdaq +1 · View original ↗

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