VLO - Dispelling The Myth Of Higher Gasoline Demand In The Refining Sector
Bulls in the refining sector have argued almost since the COVID-19 pandemic began that U.S. gasoline demand will be higher than average this summer. The expectation of a more-than-complete recovery to U.S. gasoline demand is premised on the argument that Americans have, in response to the ongoing pandemic, abandoned flying in favor of cars for most long-distance travel. With states reopening their economies just in time for the summer vacation season, refining sector bulls believe that rising gasoline demand will more than offset the recent collapse of jet fuel demand.
The outcome has very important