MPC · News · 20260805N

Refining Margin Trends

Marathon Petroleum Corp · 2026-08-05 · Importance 63 · Surprise 64

U.S. gasoline, diesel, and jet-fuel refining margins reached multi-year highs as fuel-supply disruptions reduced global refining availability. Marathon Petroleum’s refining margins more than doubled year over year, supporting a 112% refining-margin capture rate. The Gulf Coast and West Coast regions reportedly generated approximately $27 per barrel of adjusted EBITDA. Analysts and management expect refining markets to remain tight through 2027, although margins could normalize from current peak levels.

Key facts

• Marathon reported a 112% refining margin capture in the period discussed. source