US refinery margins in most regions of the United States fell last week as record high crude prices drove up refiner feedstock costs, Credit Suisse said in a report.

Margins in the Midwest fell the most, off $3.30 to $12.54 a barrel in the week to April 11, while US Gulf Coast margins gave up $1.53 to hit $12.62 a barrel.
“Margins actually declined (on average) last week, erasing some of the gains of the prior two weeks,” the Credit Suisse report said. “Climbing crude costs appear to have been the main reason for the decline.”
Margins for refiners in the Rockies fell $2.67 to $17.62 a barrel, with West Coast margins off 25 cents to $23.38 a barrel. US crude oil shot to a record high over $112 a barrel last week, as falling US inventories stirred concerns about supplies in the world’s top energy consumer.