# Refining and reforming and Toluene

Their prices have moved together.

Source page: https://www.materialinsights.org/links/refining-and-reforming-and-toluene/

[Refining and reforming](https://www.materialinsights.org/energy/e_refining/) (energy) and [Toluene](https://www.materialinsights.org/chemicals/toluene/) (chemical): 1 relationship.

## How they are linked

### 1. Price link: fuel blending

*Cost and price · Strong · Both ways*

Refiners can blend toluene into petrol as an octane booster or sell it to chemical buyers, so petrol margins set its alternative value. The refinery index moves with the proxy at 0.68 monthly and 0.90 yearly.

- **0.68** monthly change correlation
- **0.90** 12-month change correlation
- **0.72** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.