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Margin Slowdown
2014-09-08 07:02:15| Oil & Gas - Topix.net
Valero said Wednesday it is slashing production to cope with a money-losing gasoline refining business, as market prices pushed down by depressed crude demand continue to plumb multi-year lows. As retail U.S. gasoline prices remain below $1.70 a gallon, Valero spokesperson Bill Day said the refiner-marketer is losing $5 to $10 a barrel on the fuel, reported MarketWatch.
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