Marathon Petroleum Corporation (NYSE:MPC) Q4 2022 Earnings Call Transcript

Matthew Blair: Hey, thanks for taking my question. Could I get your thoughts on the wide octane spreads that we’ve been seeing? What — do you think that’ll persist for the rest of 2023? And are you fully compliant on Tier 3? Or are you short and buying credits in the market? Thanks.

Rick Hessling: Yes, Matt, I can comment on the octane, they obviously you’re going to move seasonally and quite a bit. But we’ve seen steady strength in octane spreads, really as a result of running the systems harder. As we look at not just our system, but the global system working to meet demands, and out running our octane capacity to a certain extent as other facilities have been shut down throughout the network. So you kind of have a bullish long-term outlook as it relates to octane spreads and position well around that, based on our octane capacity in our system.

Brian Partee: And to the last part, we’re not going to comment on our long or short position on the credits.

Kristina Kazarian: All right. With that, thank you, everyone for your interest in Marathon. If you have any additional questions or if you’d like clarification on the topics discussed this morning, please reach out and our IR team will be available to your call. I look forward to speaking with everyone. Thank you.

Operator: Thank you. That does conclude today’s conference. Thank you for participating. You may disconnect at this time.