Refinery Margins Squeezed as Gasoline Supply Continues to Build
SUGAR LAND--August 10, 2016--Written by Andrea Moede for Industrial Info Resources (Sugar Land, Texas)--Summer driving season is well under way. This time of year, also known as "gasoline season," runs from Memorial Day through Labor Day and is associated with declining supply inventories and improving refinery margins. However, the summer of 2016 actually has seen continued increases in gasoline supply that are well above five-year averages. While more pronounced in the U.S., the trend is consistent worldwide, with three major storage hubs showing markedly higher levels.
Within this article: Details on the gasoline market, including the effects of the supply increase on leader refiners, such as Valero Energy Corporation (NYSE:VLO) and Phillips 66 (NYSE:PSX).
