Refiners Tilt to Diesel Over Gasoline

U.S. refiners by now would be moving full-speed to ramp up gasoline production in advance of the summer driving season, but instead they are trying to maximize output of more-profitable diesel fuel.

The global hunger for diesel, coupled with tight refining capacity, has made diesel one of the few bright spots in the refining business, catapulting prices higher than a parallel rise in gasoline.

Diesel prices were up an additional 18.2 cents last week to a record $4.33 a gallon, a 56% increase over the price at this time last year. Gasoline is climbing, too, but less dramatically. Gas prices ...