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| Refineries are currently gouging consumers. Historical average refinery margin is $ 17.50
Margins to produce distillates in the United States, such as heating oil and diesel climbed as high as $63.26 a barrel on Tuesday, their highest since April 2020, when crude futures turned negative during the coronavirus pandemic.
U.S. gasoline margins rose to $36.39 a barrel on Monday, also its highest since April 2020, but since edged down to around $31 per barrel on Tuesday.
The 3-2-1 crack spread , a proxy for refining margins, surged to $41.19 a barrel on Tuesday, the highest since at least a year ago, according to available data from Refinitiv Eikon. | |
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Tonight’s opening
