In Deltas November statement, they projected fuel prices of $3.03-3.08 a gal. AA's Q3 results indicate prices of $3.04/gal for fuel. United was reporting 3.00 - 3.05 for November.

So was the refinery a wash for Delta? Or is that money just getting booked elsewhere and Delta Airlines proper is paying the "market" price for fuel on paper and the subsidiary gets the margin?