Question

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The EIA reports the composite refinery acquisition price in the Rocky Mountain region ( PADD 4) for a barrel of crude oil during April 2019 was $59.24. During the same period of time, the composite refinery acquisition price for the East Coast (PADD 1) was $70.01. During the same period, the average wholesale price of a gallon of gasoline (average of all grades, all formulations) in PADD 4 was $2.738 per gallon and the average wholesale price of diesel was $3.089. The PADD 1 average prices were $2.770 and $3.157, respectively. Which of the following are true? The PADD 1 spread is larger than the PADD 4 for April 2019. For either PADD 1 or PADD 4, gasoline contributes just over 63% to the value of the final goods. The PADD 4 spread for April 2019 was $1.44 per gallon. Two of the above None of the above.

Answer 1

Solution: The bold words are highlighted to justify the statements;

The EIA reports the composite refinery acquisition price in the Rocky Mountain region ( PADD 4) for a barrel of crude oil during April 2019 was $59.24.

During the same period( April 2019 ) of time, the composite refinery acquisition price for the East Coast (PADD 1) was $70.01.

During the same period,( April 2019 the average wholesale price of a gallon of gasoline (average of all grades, all formulations) in PADD 4 was $2.738 per gallon and the average wholesale price of diesel was $3.089.

The PADD 1 average prices were $2.770 and $3.157, respectively.

Which of the following are true?

1. The PADD 1 spread is larger than the PADD 4 for April 2019.
2. For either PADD 1 or PADD 4, gasoline contributes just over 63% to the value of the final goods.
3. The PADD 4 spread for April 2019 was $1.44 per gallon.
4. Two of the above
5. None of the above.

The below statements are true:

1. The PADD 1 spread is larger than the PADD 4 for April 2019. (PADD 1) was $70.01. (PADD 4) was $59.24.
2. For either PADD 1 or PADD 4, gasoline contributes just over 63% to the value of the final goods. PADD 4 was $2.738 and f diesel was $3.089.