Refinery Utilization Squeeze

Refiners are running at over 94% capacity to meet projected summer demand. However, high costs for aromatic blendstocks are keeping wholesale prices from falling in tandem with crude oil.

The Octane War

The competition for high-octane components remains fierce. Refiners are outbidding chemical producers for blendstocks to meet summer-grade RVP requirements, maintaining a high floor for gasoline prices.