Marathon Petroleum

Fuel prices surge despite falling crude as refining crunch hits record levels

Gasoline, diesel, and jet fuel prices are climbing sharply in the United States and globally even as crude oil benchmarks retreat, a divergence driven by record refining margins, depleted fuel inventories, and a cascade of refinery disruptions stretching from Michigan…

Crack spreads top $60 as refining margins hit records

The gap between what refineries pay for crude oil and what they earn selling gasoline and diesel has blown past all previous records, with the benchmark 3-2-1 crack spread reaching $58.18 per barrel this week and climbing toward $62 by…