More background https://www.bloomberg.com/opinion/articles/2022-05-09/crude-..."From 1985 to 2021, the crack spread averaged about $10.50 a barrel. Even between 2004 and 2008, during the so-called golden age of refining, the crack spread never surpassed $30. It rarely spent more than a few weeks above $20. Last week, however, the margin jumped to a record high of nearly $55. Crack margins for diesel and other petroleum products surged much higher. "
That is with the coordinated SPR release. But sure, believe it's the invisible hand and the Jones Act!
https://www.theguardian.com/environment/2022/apr/28/gas-pric...
Reflexive downvotes because you disagree is a loser's strategy. Here is the data for you own lying eyes to review: https://www.macrotrends.net/2501/crude-oil-vs-gasoline-price...
More background https://www.bloomberg.com/opinion/articles/2022-05-09/crude-... "From 1985 to 2021, the crack spread averaged about $10.50 a barrel. Even between 2004 and 2008, during the so-called golden age of refining, the crack spread never surpassed $30. It rarely spent more than a few weeks above $20. Last week, however, the margin jumped to a record high of nearly $55. Crack margins for diesel and other petroleum products surged much higher. "
That is with the coordinated SPR release. But sure, believe it's the invisible hand and the Jones Act!