Sunoco CEO Suggests Decreased Diesel Demand in Europe Could Help U.S. Refiners

SUGAR LAND--June 3, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--At the recent Sanford C. Bernstein & Co. Strategic Decisions Conference, held in New York, New York, on May 29, Sunoco Incorporated's (NYSE:SUN) (Philadelphia, Pennsylvania) President, Chairman and CEO, Lynn Elsenhans, suggested that lower diesel demand in Europe could lead to higher operating margins for U.S.-based refiners. Traditionally, European refineries have produced diesel for domestic use, with a large amount of the gasoline produced in the refining process exported outside of Europe. According to the Energy Information Administration (Washington, D.C.), the U.S. imported 111.3 million barrels of finished gasoline in 2008.