Refining stocks hit record highs as gasoline, diesel prices soar

The Valero Energy refinery in Texas City, Texas.
F. Carter Smith | Bloomberg | Getty Images

Refining stocks are surging as gasoline, diesel and jet fuel prices rise, increasing profitability for companies that turn crude oil into petroleum products that consumers use daily.

The group came under pressure Monday amid a broad-based market sell-off, but they're still trading around record levels.