Table 1. Refining and Marketing Margins and Production Costs, 1988-1997

(1997 dollars per barrel)

	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	Percent Change 1996-1997
Petroleum Product Gross Refining Margin	8.91	8.29	8.60	8.18	7.73	7.42	6.38	5.77	6.62	6.78	2.4
less Petroleum Product Marketing Costs	2.05	2.28	2.45	2.78	3.03	2.38	1.92	1.82	1.86	1.76	-5.2
less Petroleum Product Energy Costs	1.39	1.33	1.36	1.35	1.26	1.28	1.02	0.86	1.09	1.03	-5.5
less Other Petroleum Product Operating Costs	3.16	2.83	3.39	3.20	3.01	2.97	2.68	2.57	2.78	2.52	-9.5
equals Petroleum Product Net Refining Margin	2.32	1.85	1.41	0.85	0.42	0.78	0.76	0.51	0.89	1.47	65.2

Refined Product Sales (thousand barrels/day)	14,868	12,088	14,114	13,015	13,089	13,178	13,455	13,641	14,024	13,294	-5.2

GDP Deflator	76.6	79.8	83.3	86.6	89.0	91.3	93.5	95.9	98.0	100.0

Sources: Costs, margins, and sales: Energy Information Administration, Form EIA-28 (Financial Reporting System). GDP Deflator: U.S. Department of Commerce, Bureau of Economic Analysis.

Last Updated on 6/13/99
Financial Analysis Team, Office of Energy Markets and End Use, Energy Information Administration
Email: neal.davis@eia.doe.gov