Monthly average refiner acquisition costs in the U.S. 2018-2023
In May 2023, the average refiner acquisition cost in the United States stood at 71.24 U.S. dollars per barrel. This was a drastic decrease compared to the same month a year prior. Oil prices have been trading at 15-year highs following the Russia-Ukraine war, which directly affected acquisition costs for refineries. By comparison, the record low was reported in April 2020, at 19.32 U.S. dollars per barrel.