Oil refiners struggle to make premium fuel for luxury autos
BNN Bloomberg
Here’s some bad news for drivers of luxury cars and large sport-utility vehicles who are pumping the top grade of gasoline: the premium they pay over regular fuel is getting pricier.
U.S. and European refiners are scrambling to get enough octane to make high-quality gasoline. There are several potential reasons for the shortfall, including the fallout of Russia’s war in Ukraine, the impact of U.S. environmental regulations and a lack of refining capacity.
The net effect is that it’s making the fuel even more expensive than usual, when compared to regular unleaded. In the U.S., the price gap is around 75 cents a gallon — about 15 per cent more than during the same period last year — data from automotive group AAA show. In the UK, the premium has widened by 25 per cent on an annual basis, the most recent monthly data show.
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