Refining Margins Reach Multi-Year High

Refining margins, the Nymex gasoline crack spread, traded above $16 per barrel on Thursday—the highest it's been since 2017, Bloomberg said on Thursday. The crack spread is the difference between the price of crude oil and the price of refined products, which include gasoline, distillates, diesel, and jet fuel. Even as the price of crude oil continues to rise—raising the input costs for refiners—refined products prices have risen more, increasing the spread and beefing up the bottom line for refiners. Refiners had a difficult…