The 3:2:1 crack spread calculation starts with the
spot price for two barrels of gasoline, added to the spot price for one barrel of heating oil, and then subtracts the spot
price for three barrels of WTI crude oil. We use the spot month RBOB gasoline per-gallon price multiplied by 42 to reach a
barrel, and the spot month NY heating oil per-gallon price multiplied by 42 to reach a barrel. WTI crude is already quoted in
dollars per barrel. The resulting value is then divided by three.
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3-2-1 Crack Spread
(See description at left for 3-2-1 crack spread calculation)
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