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High gas prices lift refiners and fuel distributors as margins expand
Crack spreads are staying above historical averages amid supply disruptions tied to the Iran war, supporting stronger profit potential for refiners.
MarketBeat Ratings says gas prices have remained elevated despite efforts by the Trump administration to push them down during the ongoing Iran war, creating a tailwind for parts of the energy value chain beyond oil production.
The outlet highlights opportunities for refiners and fuel distributors, including Phillips 66, HF Sinclair, and CrossAmerica Partners, arguing that they can benefit from wider refining margins and strong fuel demand when gasoline and diesel margins expand.
MarketBeat Ratings points to industry crack spreads lingering above historical averages, attributing the strength to supply disruptions related to the Iran war and other factors, which it says can translate into better margins per barrel processed.
Phillips 66 is cited as having a refining business that contributed to a 2 6 2026 Q2 $8.5 billion revenue beat and a major earnings beat, with additional support from midstream and chemicals operations, while HF Sinclair is described as more directly tied to refining margin swings and CrossAmerica Partners as tied to the fuel distribution link to gasoline prices.
Latest closeGasoline (RBOB) $3.096 ▼1.2%