Oil reaches $100 a barrel: Five winners, five losers
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?
Winner: Some integrated oil companies
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.