July 31, 2014 / 11:10 AM / in 4 years

Marathon Petroleum profit rises 44 pct as margins rise

July 31 (Reuters) - Marathon Petroleum Corp’s quarterly profit rose 44 percent, helped by higher crude refining margins on the Gulf of Mexico coast.

The refiner’s net profit rose to $855 million, or $2.95 per share in the quarter ended June 30, from $593 million, or $1.83 per share, a year earlier.

The third-largest standalone U.S. refining company said revenue rose 4.5 percent to $26.84 billion. (Reporting by Swetha Gopinath in Bangalore; Editing by Saumyadeb Chakrabarty)

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