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REFINERY 1,000,000 barrels of crude oil $ 27.39 per barrel 1 bbl = 42 gallons Gasoline at 42,000 gallons per contract selling for 0.6515 per

REFINERY

1,000,000 barrels of crude oil $ 27.39 per barrel

1 bbl = 42 gallons

Gasoline at 42,000 gallons per contract selling for 0.6515 per gallon

Diesel at 42,000 gallons per contract sells for 1.0297 per gallon

Assume you make a barrel of crude into 30 gallons of gasoline and 10 gallons of diesel

Determine how many contracts of each are needed?

What is the profit on the shipment of crude?

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