“Gas "Consumer Problem," Diesel "Economic Problem:" Adam Lampe on Energy Headwinds”
PSX is the preferred pure-refining play for its diversification into transportation and chemicals, though it has become expensive.
But if you want pure refining, I prefer Phillips 66. It's a more diversified company. It operates in the transportation and distribution sector. It also has a chemicals sector .
You should be aware that some of these refineries have experienced significant price movements. So it became a bit expensive , but if history is any guide, its net profit in 2003 rose by 375%.