Investor Presentaiton
Crude and Product Advantage
Proximity to North American Crude
Production
Laid-In Crude Advantage
Refinery location and configuration enables fleet-
wide crude slate discounts to WTI
Approximately 140,000 - 160,000 barrels per day
Canadian, primarily heavy sweet and sour crude
Approximately 140,000 - 160,000 barrels per day
of Permian crude
High Value Premium Product Markets
Regional Gasoline Pricing vs Gulf Coast¹
2022
2020
2021
Average
$17.29
$16.06
$14.69
2018
2019
$25
$20
$15
$6.74
$10.10
$10
$1.44
$1.70
$5
$-
$(5)
Group 3 vs GC PNW vs GC Chicago vs GC Denver vs GC Phoenix vs GC Salt Lake vs Las Vegas vs
GC
GC
7
1.
2.
2022 Average Crude Slate
3%
6%
13%
36%
Regional ULSD Pricing vs Gulf Coast²
2018
2019
2020
2021
2022
Average
$25
$20
■Sweet
$15
42%
■Sour
$15.28
$10.38
$8.81
$6.39
$10
■Heavy
$6.25
$1.42
$5
■Wax Crude
Other
$0.47
$-
Group 3 vs GC PNW vs GC Chicago vs GC Denver vs GC Phoenix vs GC Salt Lake vs
Las Vegas vs
GC
GC
$(5)
Gulf Coast: CBOB Unleaded 84 Octane Spot Price, Group 3: Unleaded 84 Octane Spot Price, PNW: Sub-octane Spot Price, Chicago: Unleaded CBOB 84 Octane Spot Price,
Denver: CBOB 81.5 Octane Rack Price, Phoenix: CBG 84 Octane Rack Price, SLC: CBOB 81.5 Octane Rack Price, Las Vegas: CBOB 84 Octane Rack Price. Source: MarketView
Source: Market View
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