BP posts major profit after months of sky-high gasoline prices

BP posts major profit after months of sky-high gasoline prices

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Energy giant BP reported a massive profit jump in its most recently quarterly earnings report, a smashing return that comes after months of sky-high gasoline prices pinched consumers at the pump and threatened a looming energy crisis. 
The company in its report said it recorded $8.5 billion in underlying profit, up from $6.2 billion from the previous quarter, a near-40 percent spike.
 "This was driven by strong realized refining margins, continuing exceptional oil trading performance and higher liquids realizations," the company said, though it noted that the gains were "partly offset by an average gas marketing and trading contribution."
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Source: https://justthenews.com/nation/economy/bp-posts-major-profit-after-months-sky-high-gasoline-prices?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators