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Valero Executive: Fuel Margins Will Rise Again Despite Washington's Efforts to Curb Oil Prices
A Valero Energy executive said on Thursday that fuel production margins, which have retreated from historical highs, are expected to rise again despite Washington's efforts to curb gasoline and diesel prices. Valero reported record profits last quarter, with net income reaching $6.8 billion. U.S. refiners are widely expected to post exceptionally strong profits in the third quarter, as fuel production has become a critical bottleneck due to widespread disruptions in energy markets caused by the Iran-Iraq War and the Russia-Ukraine conflict.
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