Marathon Petroleum
Q2 2022 Earnings Call
Aug 02, 2022, 11:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to the MPC second quarter 2022 earnings call. My name is Sheila, and I will be your operator for today's call. [Operator instructions] Please note that this conference is being recorded. I will now turn the call over to Kristina Kazarian.
Kristina, you may begin.
Kristina Kazarian -- Managing Director
Welcome to Marathon Petroleum Corporation's second quarter 2022 earnings conference call. The slides that accompany this call can be found on our website at marathonpetroleum.com, under the Investor tab. Joining me on the call today are Mike Hennigan, CEO, Maryann Mannen, CFO, and other members of the executive team. We invite you to read the safe harbor statements on Slide 2.
We will be making forward-looking statements today. Actual results may differ and factors that could cause actual results to differ are included there as well as in our SEC filings. With that, I'll turn the call over to Mike.
Mike Hennigan -- Chief Executive Officer
Thanks, Kristina. Good morning, everyone. In the second quarter, our operational activity was driven by strong market demand for transportation fuels we manufacture. Demand remains resilient, largely driven by the removal of globally imposed mobility restrictions and the pent-up desire to travel.
Jet fuel demand continued its recovery, up nearly 20% from the same quarter last year, with the increased resumption of travel. Gasoline demand remained very resilient through the quarter in part due to the start of the summer driving season. Diesel demand after a strong beginning to the year, softened a bit in the second quarter due to lower trucking volumes. During the second quarter, in order to meet robust customer demand, we ran our refining system at full utilization.
We optimized our system to provide as much transportation fuel to the market as possible. Commercially, we optimized around our scale, footprint, and feedstock slate to meet this customer demand. This resulted in an adjusted EBITDA of $9.1 billion as we saw crack spreads this quarter respond to uncertainty in the product markets, driven by the potential for sanction impacts on top of an already tight supply and related inventory levels. Maryann will walk you through the details of our results.