OilFinder2 wrote:But then again . . .
WSJRefiners Tilt to Diesel Over Gasoline
By Ana Campoy
U.S. refiners by now would be moving full-speed to ramp up gasoline production in advance of the summer driving season, but instead they are trying to maximize output of more-profitable diesel fuel.
The global hunger for diesel, coupled with tight refining capacity, has made diesel one of the few bright spots in the refining business, catapulting prices higher than a parallel rise in gasoline.
Diesel prices were up an additional 18.2 cents last week to a record $4.33 a gallon, a 56% increase over the price at this time last year. Gasoline is climbing, too, but less dramatically.
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A survey by the AA has found that prices for both petrol and diesel continued to rise in the last month.
The survey found that the average price of diesel now costs 132.4 cent, which represents a 7.8 cent increase in the last month alone, while petrol now costs 124.9 cent on average, up 3.8 cent.
The price of diesel usually drops as summer approaches, but that trend has been bucked this year with price rises that AA public affairs manager Conor Faughnan describes as 'phenomenal'.
'We have never seen prices rise so fast or reach so high. It is having a major impact on diesel motorists and also on the cost of haulage and the costs for many businesses. It's bad news for the consumer's pocket and the economy as a whole,' he said.
'We can understand oil prices pushing up the cost of fuel,' he explained. 'But that does not explain why diesel is affected so much worse than petrol,' he added.
Mr Faughnan pointed out that the current highs are not restricted to Ireland.
He said: 'Right across Europe and beyond, diesel is at record highs. We still have no satisfactory explanation as to why this should be so.
'European countries including Ireland are encouraging their motorists to switch to diesel for environmental reasons, and it would be extremely disappointing if those consumers lost out.'
Mr Faughnan called on both the Government and the European Commission to get to the bottom of the current situation.
A survey by the AA has found that prices for both petrol and diesel continued to rise in the last month.
The survey found that the average price of diesel now costs 132.4 cent, which represents a 7.8 cent increase in the last month alone, while petrol now costs 124.9 cent on average, up 3.8 cent.
The price of diesel usually drops as summer approaches, but that trend has been bucked this year with price rises that AA public affairs manager Conor Faughnan describes as 'phenomenal'.
'We have never seen prices rise so fast or reach so high. It is having a major impact on diesel motorists and also on the cost of haulage and the costs for many businesses. It's bad news for the consumer's pocket and the economy as a whole,' he said.
'We can understand oil prices pushing up the cost of fuel,' he explained. 'But that does not explain why diesel is affected so much worse than petrol,' he added.
Mr Faughnan pointed out that the current highs are not restricted to Ireland.
He said: 'Right across Europe and beyond, diesel is at record highs. We still have no satisfactory explanation as to why this should be so.
'European countries including Ireland are encouraging their motorists to switch to diesel for environmental reasons, and it would be extremely disappointing if those consumers lost out.'
Mr Faughnan called on both the Government and the European Commission to get to the bottom of the current situation.
http://www.petrolprices.com/ wrote:UK Petrol Prices for
Thursday 15th May 2008
Avg. Min. Max.
Unleaded: 112.6p 107.9p 122.9p
Diesel: 124.2p 117.9p 136.0p
LRP: 117.0p 110.9p 122.9p
Super: 119.5p 110.9p 130.9p
LPG: 57.0p 48.5p 61.9p
Twilight wrote:Posted: Wed May 16, 2007 6:23 pm Post subject: Re: Europe Fuel Shortage Reports Add User to Ignore List Reply with quote Edit/Delete this post
Yesterday's UK national averages (per litre)
Ave / Min / Max
Unleaded: 95.9p 91.9p 104.9p
Diesel: 96.8p 91.9p 106.9p
LRP: 99.7p 93.9p 101.9p
Super: 102.1p 94.9p 110.9p
LPG: 46.2p 39.9p 52.9p
http://www.peakoil.com/fortopic28371-0-asc-45.html
I've seen the price of diesel at £1.28 here per LITRE !
lol .. That's $9.42 per gallon
The Imperial gallon is no longer legal, in the United Kingdom, for trade or public administration purposes, but it is used colloquially (and in advertising) for fuel consumption figures in miles per gallon.
The Imperial gallon continues to be used as a unit of measure for fuel in Antigua and Barbuda, Belize, Burma, Grenada, Guyana, Sierra Leone and the United Arab Emirates.[1][2][3][4][5][6][7][8][9][10]
Record high 13.59 kr/litre is todays list price at Shell Norway. That is $10.16/gallon...
fletch_961 wrote:I've seen the price of diesel at £1.28 here per LITRE !
lol .. That's $9.42 per gallon
European currency converted to American currency.
European measurement converted to British (U/K) measurement-no longer in use.The Imperial gallon is no longer legal, in the United Kingdom, for trade or public administration purposes, but it is used colloquially (and in advertising) for fuel consumption figures in miles per gallon.
The Imperial gallon continues to be used as a unit of measure for fuel in Antigua and Barbuda, Belize, Burma, Grenada, Guyana, Sierra Leone and the United Arab Emirates.[1][2][3][4][5][6][7][8][9][10]
We don't use the same size gallon on this side of the pond. In fact pretty much nobody uses that gallon. That got smart and switched to metric.
For an American who buy their fuel with American currency measured in American gallons:
1.28 / .64 * 3.79 = $7.58
It is about $4.50 here. So no big difference when you know the reason for the difference.
I know most American will probably disagree with me---But if it is measured in liters leave it alone. If you really feel the need to convert something to an American standard with regards to the liter--convert it to our way of spelling it.
I appreciate your effort in converting stuff for us dumb Americans, but it is pretty much useless if I have to guess which unit of measurement you are using.
Unless of course you are trying to exaggerate how much your paying for fuel.
/rant offRecord high 13.59 kr/litre is todays list price at Shell Norway. That is $10.16/gallon...
I'll just assume something around $8.
Short term yes AFAIK. Long term, not really. For instance, earlier this year diesel was way out of range with gasoline compared to it's usual difference that seems to be based on energy content. In other words per btu/kwh/etc diesel and gas tend to cost the same, but when ULSD was introduced, the dollar falling further and high heating oil demand served to drive prices up in the short term. In the long term, refiners adjusted their crack ratio in response to prices and diesel returned to it's usual pricing.wisconsin_cur wrote:And how much can they "tilt" toward middle distillates? I cannot remember the percentage but refineries are only capable of small moves in one direction or another.
Wikipedia wrote:For simplicity, most refiners wishing to hedge their price exposures have used a crack ratio usually expressed as X:Y:Z where X represents a number of barrels of crude oil, Y represents a number of barrels of gasoline and Z represents a number of barrels of distillate fuel oil, subject to the constraint that X=Y+Z. This crack ratio is used for hedging purposes by buying X barrels of crude oil and selling Y barrels of gasoline and Z barrels of distillate in the futures market. The crack spread X:Y:Z reflects the spread obtaining by trading oil, gasoline and distillate according to this ratio. Widely used crack spreads have included 3:2:1, 5:3:2 and 2:1:1.[1] As the 3:2:1 crack spread is the most popular of these, widely quoted crack spread benchmarks are the "Gulf Coast 3:2:1" and the "Chicago 3:2:1".
Professor Membrane wrote: Not now son, I'm making ... TOAST!
Supposedly there is a much wider range based on seasonal demand alone, ~10+%. I imagine that could be altered more, although by how much I don't know.pup55 wrote:Note that they have some flexibility on this, at the current time I would say they have about 5% wiggle room.
Professor Membrane wrote: Not now son, I'm making ... TOAST!
Well, they explain the effects, not the problems.
normal wrote:NeoPeasant wrote:NonToxic wrote:Does anyone know why the price of diesel is more than super in some places?
Because of goobers in giant noisy stinky 4 wheel drive diesel pickup trucks hauling nothing but their own fat asses around?
How about the fact that the diesels run cleaner and and last hundreds of thousands of miles before needing a major overhaul and get better mielage??
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