Refineries are not the story when it comes to retail gasoline prices. Raw materials (in this case crude oil) account for the biggest share of the final price consumers pay.
The United States is the now largest producer of crude oil and has the largest, most complex and most efficient refining industry in the world. Yet two of our most important oil trading partners are those that share our borders: Canada and Mexico.
This week, AFPM joined API and industry associations representing fuel retailers, gasoline marketers, convenience stores and tank truck carriers to field questions from the media about the ongoing fuel distribution challenges resulting from the Colonial Pipeline shutdown.
The Line 5 pipeline plays a critical role in ensuring the United States and Canada continue to have access to affordable fuels, propane and other refined products. Union, political and business leaders on both sides of the border are emphasizing the critical role of the Line 5 pipeline and calling for it to remain open until its replacement can be completed:
WASHINGTON, D.C. – AFPM congratulates President-elect Biden and Vice President-elect Harris.
WASHINGTON, D.C. – Members in the House and Senate, led by Sen. John Cornyn and Rep. Vicente Gonzalez, sent a letter this week to President Trump urging him to address issues of unfair market access for U.S. energy companies doing business in Mexico. Chet Thompson, President and CEO of AFPM, echoed these calls with the following statement.
Three-quarters of the way through an unprecedented year marked by a pandemic, an economic downturn and market volatility — and wi