Diesel Crack spread = $104.79 (CAD)To determine crack spread you take wholesale price diesel and multiply by 158.99 (litres in a barrel) and then the same for wholesale furnace oil and then divide by 3 times the price of a barrel of oil in CAD.
Diesel and heating oil are both wholesale selling in Toronto for $1.77 litre. Oil is 106 x 1.31 = $138.86
https://www.petro-canada.ca/en/business/rack-prices
Do the math and you get $104.79
Diesel is appropriate to use because the feedstock Suncor uses is high in diesel content.
I'm pissed they didn't raise the dividend more though I still believe this company is now a money machine! Lucky to buy more at ~$44.50 today. They may end up buying back more than 10% of shares this year because they will have generated so much cash.
IMO SU is a better buy now than when it was sub $30 knowing what we know now. I'm hoping to pick off a few more cheap shares.