Journal Article

Downstream Bottlenecks in the Oil Supply Chain Are Contributing to Historically High Refinery Margins and Fuel Prices


Abstract: Ongoing global energy supply shocks are causing disruptions throughout the oil supply chain. These shocks, combined with depleted petroleum inventories, are creating tight market conditions and bottlenecks for the downstream refining sector. Consequently, capacity constraints are emerging for refineries, leading to historically high refinery margins and adding upward pressure to already elevated fuel prices.

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2026-11-05

Pages: 4