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With gasoline now at $3.37 per gallon – 20 cents higher than last week, and rising daily – who is profiting from higher prices and who is not?
Profit margins are especially high for oil companies with access to the ample crude oil stockpiles of Cushing, Okla. They can sell their refined products with a profit margin of as much as $18 a barrel – compare that to refiners in the Gulf Coast who make $8 a barrel.
“Certain refiners are able to make more profit per barrel of oil refined than others,” says Mr. Cohan.
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