Originally Posted by ADL Colin

Exxon Mobil actually LOST over $1 billion on their refining margins because gas prices were low compared to the price of oil. They made their huge profit on E and P (sales of the oil itself). Refining margins have slipped quite a bit since last year. On the east US coast the "3-2-1 crack spread" (a measure of refining profits) has dropped from $11.37 to $6.66.