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  "documentTitle": "2023 Q4 Earnings",
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      "text": "For FY 2023, this refining differential drove ~$160M in added costs, or a 1.5-point reduction to adjusted pretax margin.",
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      "text": "LA vs USGC refining margin spreads continued to widen throughout 2023, but are expected to moderate in Q1 2024. Over 65% of our fuel consumption comes from West Coast. For FY 2023, this refining differential drove ~$160M in added costs.",
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      "text": "Fuel Cost",
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