April 25, 2019 / 10:39 AM / in 2 months

Valero Energy first-quarter profit falls 70 percent

April 25 (Reuters) - Valero Energy Corp reported a 70 percent fall in quarterly profit on Thursday, as the U.S. independent refiner processed less crude and margins were weighed down by lower gasoline prices.

Net income attributable to Valero fell to $141 million, or 34 cents per share, in the first quarter ended March 31, from $469 million, or $1.09 per share, a year earlier.

San Antonio, Texas-based Valero said refining margins fell about 10 percent to $2 billion. (Reporting by Arundhati Sarkar in Bengaluru; Editing by James Emmanuel)

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