Refiners Herald the Return of King Gasoline in the U.S.
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After years of trying to reduce gasoline production in favor of diesel, U.S. refiners are once again relying on America’s favorite motor fuel to drive profits.
Gasoline is the best-performing member of the Bloomberg Commodity Index this year. Demand is the highest since 2007 as Americans drove the most miles ever over the first five months of 2015. The price at the pump is 24 percent less than a year ago, thanks to a global oil rout.