lj: VLO
Something I read earlier today. Valero's refineries will be running at only 82 percent of full capacity, give or take a percent or so, in Q1. They were running at a rate of about 93 percent, give or take, in Q4 2023. They do the maintenance or whatever to switch over to the summer blend. If Marathon and Phillips do the same thing--produce at a dramatically lower rate, I'm thinking $3.50 a gallon average price for 87 octane. The crack spread is looking good for Q1. (Speaking of which, I saw this guy in Baltimore yesterday. . . . If I had a good camera, I would take pics and produce a wall calendar at the end of the year--Baltimore Butt Cracks. Seriously, I think it would sell.)
