PBF Energy Inc (PBF) saw its stock price surge 5.04% during Friday's trading session, outperforming the broader energy sector. This significant uptick comes as refiners continue to show resilience in an otherwise challenging market for energy companies.

The robust performance of PBF Energy can be attributed to the current dynamics in the oil and fuel markets. According to industry analysts, refiners are benefiting from a widening gap between crude oil prices and wholesale gasoline prices, which rose to $27 at the end of April from $13 at the start of the year. This spread reflects a tightening fuel market, with gasoline inventories at the low end of their five-year average and diesel stocks also running low.

PBF Energy, described as a "more speculative option" among refiners, is attracting investor attention with its high dividend yield of 6.4%. The company's operations on both the East and West Coasts position it to potentially capitalize on regional supply constraints, particularly noteworthy given the 12-year low gasoline inventories on the West Coast. While PBF Energy's stock had fallen more than 30% earlier this year, today's surge suggests a possible reversal of sentiment as investors reassess the value proposition of refinery stocks in the current market environment.