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Gasoline prices are punishing drivers at the pump while a handful of companies are posting the most profitable quarters in their histories, and the structural reason this keeps happening has nothing to do with luck or crude oil prices.
Higher crack spreads driven by Strait of Hormuz supply disruptions pushed the refiner's quarterly net income to $5.1 billion
Marathon Petroleum tops Q1 estimates as refining margins surge, while a new $5B buyback boosts total repurchase capacity.
Marathon Petroleum Corp. (NYSE:MPC) delivered first-quarter results that exceeded analyst forecasts, posting adjusted earnings per share of $1.
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