10/27/16 – 10:54 A.M.
Profits fell this quarter for Marathon Petroleum Corporation to $145 million due to lower fuel prices. The Courier reports that profits fell 85% or 27 cents per share. The company’s revenue declined 12% to just short of $16.5 billion. The refining and market operating profit also took a hit, falling 79% from last year to $306 million. Chairman and CEO Gary Heminger said that despite the refining profit decline, Marathon has success in continuing to grow in more stable profit areas.Read More →