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DelCamper wrote:
As gasoline demand drops diesel becomes more expensive relative to gasoline. When gasoline is in high demand too much diesel is made as a by-product and the market is flooded with diesel dropping it's price. This happened often in summer. Now diesel is the driving force and only as much is made to meet market demand. Diesel is 20% heaver then gasoline and less is therefore in every barrel of crude. Many see gasoline as the "higher product" and assume it should cost more. In reality diesel is more valuable because refining is the lowest of costs in the overall price reflecting 20-25 cents a gallon outside of a rarity like Katrina. With less diesel in a barrel and the cost of crude being 10 times or more of the refining cost diesel is a premium.
Even though I spent three decades in power generation within a refinery you if your attend enough meetings you get to understand downstream oil economics a bit.
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