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Chevron CEO Eimear Bonner expects high fuel refining margins to persist
Herz — World Desk · · 30s summary · 1 min read
The essentials
Chevron Corp. CEO Eimear Bonner expects fuel refining margins to remain high for as long as energy markets stay under strain, according to Bloomberg. Diesel, jet fuel and petrol prices remain elevated even though international crude oil prices have fallen by nearly 30% over the past three months. Disruptions to production and maritime transport in two unspecified theatres of war have prevented lower input costs from being passed on fully to consumers. The available information does not indicate how long these market pressures may last.
- Fuel refining margins are expected to remain high.
- International crude oil prices fell nearly 30% in three months.
- Diesel, jet fuel and petrol prices remain elevated.
- Production and shipping disruptions are limiting consumer relief.
What we know
Chevron Corp. CEO Eimear Bonner expects fuel refining margins to remain high for as long as energy markets remain “under strain”, according to Bloomberg.
Diesel, jet fuel and petrol prices remain elevated despite the decline in international crude oil prices.
Crude oil’s decline has yet to reach consumers fully
International crude oil prices have fallen by nearly 30% over the past three months.
That decline has not been passed on fully to fuel consumers.
Production and shipping disruptions
Production and maritime transport have been disrupted in two theatres of war that were not identified in the available information.
Those disruptions have prevented lower input costs from reaching consumers in full.
What remains uncertain
The available information identifies neither the two theatres of war involved nor how long the strain on energy markets is expected to persist.
Frequently asked questions
Why do fuel prices remain high?
Disruptions to production and maritime transport are limiting the extent to which lower input costs reach consumers.
How much have crude oil prices fallen?
International crude oil prices have declined by nearly 30% over the past three months.
Which fuels are affected?
The available information identifies diesel, jet fuel and petrol.
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