Why the US Gulf Coast 3:2:1 Crack Spread Nosedived Last Week. On Friday, August 28, the spread was $13.728 per barrel. For context, the US Gulf Coast crack spread had peaked at $26 a few weeks earlier on August 12, and the lowest crack spread levels this year reached $3.50 early in January. The Crack Spread is the spread between the price of crude oil and the petroleum products that are refined from the crude oil. Refiners need to buy crude oil (the raw material) which they then refine into various petroleum products such as gas and diesel (the finished product).
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December 2020
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