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HOUSTON -- Marathon Oil Corp. reported Speedway SuperAmerica LLC's fourth-quarter same-store gasoline sales volume will decrease about 2 percent compared to the same quarter of last year.
The company's gasoline and distillate gross margin averaged approximately $0.10 per gallon during October and November 2009 and is expected to average approximately the same for the full fourth quarter of 2009.
The oil company said its crude oil refined is expected to increase to an average of approximately 998,000 barrels per day (bpd) for the fourth quarter of 2009, compared to 952,000 bpd in the final three months the year prior.
Total refinery throughputs for the fourth quarter of 2009 are expected to be about 1,190,000 bpd compared to 1,177,000 bpd in the fourth quarter of 2008. The company currently projects its refined products sales volumes will average approximately 1,450,000 bpd in the fourth quarter of 2009 compared to 1,404,000 bpd in the fourth quarter of 2008.
The company estimates its fourth quarter 2009 refining and wholesale marketing gross margin will be approximately $0.01 per gallon as compared to $0.1248 per gallon earned in the fourth quarter of 2008.The primary factor contributing to the margin decline is lower fourth quarter 2009 wholesale price realizations compared to the relevant spot market indicators, due to crude oil prices increasing about $10 per barrel during the fourth quarter of 2009 compared to the significant drop in crude oil prices of about $55 per barrel during the fourth quarter of 2008, the company said.
Marathon will report its full fourth-quarter 2009 results on Feb. 2, 2010.
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