CoachA crack spread is the difference between the value of refined products and the cost of the crude they are made from, in a fixed volume ratio, per barrel of crude. The 3-2-1 crack spread sells two barrels of gasoline and one of diesel for three barrels of crude:
all prices in dollars per barrel (product prices per gallon times 42).
Examples
Example 3.5 (A crack from three quotes)
With crude at , gasoline at and diesel at (the August 2026 averages of the data used below), the products are worth and , and the 3-2-1 crack is . Separately, the gasoline crack is and the diesel crack .