Business Segments · Cost And Expenses
Refining — Cost And Expenses
Phillips 66 Refining — Cost And Expenses increased by 10.8% to $22.35B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 33.8%, from $16.71B to $22.35B. Over 3 years (FY 2022 to FY 2025), Refining — Cost And Expenses shows a downward trend with a -9.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementSegment
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ1 2022
Last reportedQ1 2026
How to read this metric
Rising total costs relative to output indicate declining efficiency or inflationary pressures, while a downward trend suggests improved operational discipline.
Detailed definition
This is the aggregate of all operating, administrative, and capital-related costs incurred by the refining segment. It r...
Peer comparison
Standard aggregate expense metric for business segments across all industries.
Metric ID:
psx_segment_refining_cost_and_expensesHistorical Data
17 periods
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $25.71B | $25.71B | $25.71B | $25.71B | $21.85B | $21.85B | $21.85B | $21.85B | $21.83B | $22.84B | $21.10B | $19.61B | $16.71B | $18.37B | $19.89B | $20.17B | $22.35B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | -15.0% | +0.0% | +0.0% | +0.0% | -0.1% | +4.6% | -7.6% | -7.0% | -14.8% | +9.9% | +8.3% | +1.4% | +10.8% |
| YoY Change | — | — | — | — | -15.0% | -15.0% | -15.0% | -15.0% | -0.1% | +4.5% | -3.5% | -10.3% | -23.5% | -19.6% | -5.7% | +2.9% | +33.8% |
Range$16.71B – $25.71B
CAGR-3.4%
Avg YoY Growth-6.3%
Median YoY Growth-10.3%
Current Streak4 quarters growth
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Frequently Asked Questions
- What is Phillips 66's refining — cost and expenses?
- Phillips 66 (PSX) reported refining — cost and expenses of $22.35B in Q1 2026.
- How has Phillips 66's refining — cost and expenses changed year-over-year?
- Phillips 66's refining — cost and expenses increased by 33.8% year-over-year, from $16.71B to $22.35B.
- What is the long-term trend for Phillips 66's refining — cost and expenses?
- Over 3 years (2022 to 2025), Phillips 66's refining — cost and expenses has grown at a -9.9% compound annual growth rate (CAGR), from $102.86B to $75.14B.
- What does refining — cost and expenses mean?
- The total sum of all costs and expenses associated with the refining business segment.