Marathon bids big for andeavor and a far-reaching fuel realm youtube gas pedal dance

##

Marathon is the nation’s second-largest refiner, with a crude oil refining capacity of approximately 1.9 million barrels per calendar day. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia.

Marathon, based in Findlay, Ohio, has operations concentrated in the East while Andeavor, formerly known as Tesoro, has operations in the West. That could give the companies some leeway when the deal goes before regulators that will review how the combined company will hurt or help consumers.

Crude is the feedstock for refiners and the companies will point out what is happening to prices globally. That is already spreading pain around for anyone who drives. Nationwide 13 percent of all gas stations are charging $3 per gallon or more for a gallon of gas, AAA said last week.

The deal is targeted to close in the second half of the year. Once it closes, Andeavor Chairman and CEO Greg Goff will become an executive vice chairman at Marathon. He’ll also join Marathon’s board, along with three other Andeavor directors.

Crude oil prices are hovering at the levels not seen in three years and are expected to climb further still, pushing up gasoline prices along the way. Gasoline prices are up 15 percent compared with last year at this time and the daily U.S. average price for a gallon is now $2.81, but it’s higher in many places.

Marathon is the nation’s second-largest refiner, with a crude oil refining capacity of approximately 1.9 million barrels per calendar day. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia.

Marathon, based in Findlay, Ohio, has operations concentrated in the East while Andeavor, formerly known as Tesoro, has operations in the West. That could give the companies some leeway when the deal goes before regulators that will review how the combined company will hurt or help consumers.

Crude is the feedstock for refiners and the companies will point out what is happening to prices globally. That is already spreading pain around for anyone who drives. Nationwide 13 percent of all gas stations are charging $3 per gallon or more for a gallon of gas, AAA said last week.

The deal is targeted to close in the second half of the year. Once it closes, Andeavor Chairman and CEO Greg Goff will become an executive vice chairman at Marathon. He’ll also join Marathon’s board, along with three other Andeavor directors.

Crude oil prices are hovering at the levels not seen in three years and are expected to climb further still, pushing up gasoline prices along the way. Gasoline prices are up 15 percent compared with last year at this time and the daily U.S. average price for a gallon is now $2.81, but it’s higher in many places.

Marathon is the nation’s second-largest refiner, with a crude oil refining capacity of approximately 1.9 million barrels per calendar day. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia.

Marathon, based in Findlay, Ohio, has operations concentrated in the East while Andeavor, formerly known as Tesoro, has operations in the West. That could give the companies some leeway when the deal goes before regulators that will review how the combined company will hurt or help consumers.

Crude is the feedstock for refiners and the companies will point out what is happening to prices globally. That is already spreading pain around for anyone who drives. Nationwide 13 percent of all gas stations are charging $3 per gallon or more for a gallon of gas, AAA said last week.

The deal is targeted to close in the second half of the year. Once it closes, Andeavor Chairman and CEO Greg Goff will become an executive vice chairman at Marathon. He’ll also join Marathon’s board, along with three other Andeavor directors.

Crude oil prices are hovering at the levels not seen in three years and are expected to climb further still, pushing up gasoline prices along the way. Gasoline prices are up 15 percent compared with last year at this time and the daily U.S. average price for a gallon is now $2.81, but it’s higher in many places.

Marathon is the nation’s second-largest refiner, with a crude oil refining capacity of approximately 1.9 million barrels per calendar day. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia.

Marathon, based in Findlay, Ohio, has operations concentrated in the East while Andeavor, formerly known as Tesoro, has operations in the West. That could give the companies some leeway when the deal goes before regulators that will review how the combined company will hurt or help consumers.

Crude is the feedstock for refiners and the companies will point out what is happening to prices globally. That is already spreading pain around for anyone who drives. Nationwide 13 percent of all gas stations are charging $3 per gallon or more for a gallon of gas, AAA said last week.

The deal is targeted to close in the second half of the year. Once it closes, Andeavor Chairman and CEO Greg Goff will become an executive vice chairman at Marathon. He’ll also join Marathon’s board, along with three other Andeavor directors.