In the States we see that the refinery rally is in full swing.
Tesoro Petroleum, Valero and Sunoco are hitting new highs.
The margin between the crude product and the gasoline is still widening.
This gives an answer to the question: how come that crude oil can lose 60% and my gasoline is only falling with 30%. Well here’s the answer: the refining companies take a chunk for themselves.
And governments are helping here of course, because the higher the price, the more taxes they earn.
And they can use every penny for the moment.
Watch this rally in full swing:
Tesoro Petroleum, Valero and Sunoco are hitting new highs.
The margin between the crude product and the gasoline is still widening.
This gives an answer to the question: how come that crude oil can lose 60% and my gasoline is only falling with 30%. Well here’s the answer: the refining companies take a chunk for themselves.
And governments are helping here of course, because the higher the price, the more taxes they earn.
And they can use every penny for the moment.
Watch this rally in full swing:
But still early in the game:
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