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Exxon Mobil Corporation operates oil refineries that process crude oil into various petroleum products. During the month of April, the company's refinery in Texas processed

  1. Exxon Mobil Corporation operates oil refineries that process crude oil into various petroleum products. During the month of April, the company's refinery in Texas processed 500,000 barrels of crude oil. The refinery incurred operating costs of $50 million and produced 400,000 barrels of gasoline, 80,000 barrels of diesel, and 20,000 barrels of jet fuel. Calculate the refinery's cost per barrel of each petroleum product, and discuss how variations in crude oil prices and production volumes may impact the refinery's profitability.

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