HOW REFINERY FUEL INDEXES HAVE FALLEN

Gerald L. Farrar Contributing Editor Costs for several selected fuels consumed in refinery operation have fallen significantly over the last 5 years, as shown in the table. Of the six individual items which contribute to overall refinery fuel price, Gulf cargoes residual fuel fell the most, from 1339.3 during the first quarter of 1984, to 508.4 during the fourth quarter of 1988. Over this same time span, Oklahoma northern shipments index dropped from 1440.9 to 610.3.