Philadelphia Refinery Woe Boosts U.S. East Coast Margins
- Fuel prices rise to attract supply from Gulf Coast, Europe
- PBF now largest refiner in area, benefits from wider margins
This article is for subscribers only.
U.S. East Coast refining margins have more than doubled in the past month, helped by weakening physical crude markets and a fire that crippled the biggest facility in the region.
Last week, Philadelphia Energy Solutions announced it plans to close after a fire in late June, it’s second that month, destroyed most of an alkylation unit, which makes high-octane gasoline. The complex processed 335,000 barrels of crude a day and supplied about 3% of gasoline demand in the region.