VALERO ENERGY CORP/TX
For the period ended Oct 23, 2025. Filed Oct 23, 2025.
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Oct 23, 2025 · Filed Oct 23, 2025
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VLO$346.45-1.4%Stored close · as of Nov 6, 2026
Contents
EX-99.01 · AVERAGE MARKET REFERENCE PRICES AND DIFFERENTIALS
AVERAGE MARKET REFERENCE PRICES AND DIFFERENTIALS
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Refining | ||||
| Feedstocks (dollars per barrel) | ||||
| Brent crude oil | $68.14 | $78.37 | $69.87 | $81.72 |
| Brent less West Texas Intermediate (WTI) crude oil | 3.11 | 3.18 | 3.08 | 4.05 |
| Brent less WTI Houston crude oil | 2.09 | 1.94 | 2.02 | 2.53 |
| Brent less Dated Brent crude oil | (0.91) | (1.63) | (0.91) | (0.97) |
| Brent less Argus Sour Crude Index crude oil | 3.46 | 4.30 | 2.68 | 4.39 |
| Brent less Maya crude oil | 7.14 | 11.19 | 8.35 | 11.66 |
| Brent less Western Canadian Select Houston crude oil | 6.93 | 10.36 | 6.81 | 11.03 |
| WTI crude oil | 65.03 | 75.19 | 66.79 | 77.67 |
| Natural gas (dollars per million British thermal units) | 2.70 | 1.83 | 2.97 | 1.79 |
| Renewable volume obligation (RVO) (dollars per barrel) (j) | 6.38 | 3.89 | 5.76 | 3.65 |
| Product margins (RVO adjusted unless otherwise noted) (dollars per barrel) | ||||
| U.S. Gulf Coast: | ||||
| Conventional Blendstock for Oxygenate Blending (CBOB)gasoline less Brent | 7.78 | 6.28 | 6.78 | 7.45 |
| Ultra-low-sulfur (ULS) diesel less Brent | 21.05 | 11.89 | 17.51 | 16.87 |
| Polymer Grade Propylene less Brent (not RVO adjusted) | (8.22) | 12.82 | (3.07) | 7.28 |
| U.S. Mid-Continent: | ||||
| CBOB gasoline less WTI | 12.79 | 14.08 | 12.32 | 12.16 |
| ULS diesel less WTI | 26.16 | 16.74 | 21.09 | 18.94 |
| North Atlantic: | ||||
| CBOB gasoline less Brent | 14.58 | 12.16 | 10.97 | 12.41 |
| ULS diesel less Brent | 24.64 | 13.68 | 21.44 | 19.39 |
| U.S. West Coast: | ||||
| California Reformulated Gasoline Blendstock forOxygenate Blending 87 gasoline less Brent | 26.69 | 23.56 | 28.94 | 25.13 |
| California Air Resources Board diesel less Brent | 29.83 | 14.22 | 23.47 | 19.65 |
Table Page 13
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