- Californians are now paying, on average, more than $4 per gallon of regular gasoline (reported and linked earlier this morning). That story is a headline in the Los Angeles Times.
- Meanwhile, US exports of diesel fuel have gone up 300% since 2009 and US gasoline exports have increased five-fold since 2009 (posted and linked earlier this morning). That amazing fact does not get a headline in the The Los Angeles Times.
Refinery utilization rates here. In August, 1998, refinery utilization rate reached 99.9% (almost hard to believe). Between 1993 and 2007, utilization rate was generally above 92% but before 1993 and after 2007, the utilization rate was clearly below 92%. The current trend is rather subtle: the rate has been fairly stable over the past few years but well above the 75% low in September, 2008. This is way beyond my comfort level, but if refinery utilization rate can hit 98% (as it did in 1998), and current refinery utilization rate is 92%, there is a bit of room for growth. When it comes to the large numbers in diesel and gasoline production, one would think that even a one-percent change would drop to a refiner's bottom line.
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