I think what you're seeing there is an even tighter supply-demand situation on middle distillates, including diesel, than there is on gasoline. I think that's particularly tight in the Atlantic basin. Europe has a huge demand and thirst for diesel these days because of its significant and rapid dieselization of its automobile fleet. The demand profile in Europe is quite different from what it is here in North America, in that diesel is much higher in demand than gasoline. Also, we've seen significant economic growth throughout the world over the last number of years, and diesel is largely driven by demand. It's largely driven by economic growth. So it's a combination of factors that ultimately have created a very tight supply and demand situation for diesel that has driven diesel prices up proportionately higher than gasoline in the last few months.
On August 27th, 2008. See this statement in context.