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July 10th, 2012 
FAKE NEWS for the Zionist agenda NEW YORK (AP) — Oil refineries are notorious for putting shareholders on a roller coaster ride with big swings in profits and losses.
So far this year this year, it’s been mostly a thrill for investors. Profits were up from January to March, and analysts expect company earnings to have continued to roll in from April to June.
It’s easy to see why: The price of oil dropped in the second quarter from the first, the key ingredient that refineries need to make gasoline and other petroleum products. Meanwhile, the price of gasoline in the United States increased, generating higher sales per gallon.
Benchmark U.S. crude prices, for example, declined by 9.4 percent in the second quarter versus the first while Brent crude fell by 8.2 percent. Retail U.S. gasoline prices increased by 3.3 percent.
The increased profits have boosted shares this year for many American refineries including Delek US Holdings Inc. (68 percent), Marathon Petroleum Corp. (33 percent) and PPG Industries Inc. (24 percent).
Their shares were relatively flat in Tuesday trading.
Barclays analyst Paul Cheng noted that gasoline prices in California have jumped much higher than other parts of the country, and that should benefit companies that serve the West Coast like San Antonio’s Tesoro Corp. Cheng said he expects Tesoro to earn $2.36 per share in the second quarter, about 23 cents per share higher than the average estimate according to FactSet.
“We think the market may have overlooked the company’s impressive margin capture rate improvement in the West Coast market,” Cheng said.
Tesoro shares have risen about 12 percent since the beginning of the year, well behind the rise of other independent U.S. refineries. Its shares rose 78 cents, or 3.1 percent, to $26.18 in afternoon trading.
Another refiner, Alon USA Energy, has lagged its peers with shares down 2.3 percent for the year. Alon’s shares rose 23 cents, 2.8 percent, to $8.60 per share in afternoon trading. HollyFrontier Corp. shares rose 13 cents to $36.53.
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