Gasoline Margins Lift Valero, But Refiner Sounds Note of Caution

摘要

Valero Energy, the largest oil refiner in the US, reported first-quarter earnings of $309 million (59￠/share), up 18% from $261 million (48￠/share) in the same period of last year. It pinned much of the increase on higher gasoline margins, but said reduced energy costs also played a role.