Are Refinery oil stocks worth a look?

I'm no expert but when you think when oil goes up, everything in the oil sector should go up as well. Not the case with the oil refiners. Companies such as Tesoro(TSO), Valero(VLO), and Sunoco(SUN). These are the companies that buy the crude oil from big suppliers and make it into useful gasoline and other products. Apparently the price of crude oil and the price of gasoline price has not been going up in tandem. TSO and SUN actually lost money in the current quarter. Is there opportunity here??

If we had to pick, we got to go with best of breed and that's Valero (VLO). Although earnings in the last quarter has dropped, it still made money. Plus they are selling some of their non core refinery assets which can boost their cash and stock buyback. The stock is trading at $47 and it has a book value of $34. Eventually gasoline prices should rise thus pushing Valero higher. With $3.74 billion in net income divided by enterprise value of $29 billion, that's close to a 13% initial rate of return on investment. -Stock Article Link

Valero Earnings Transcript