Marathon Petroleum profit plunges 86% amid higher costs

|About: Marathon Petroleum Corp. (MPC)|By:, SA News Editor

Marathon Petroleum's (MPC) Q3 earnings tumbled 86% due to higher costs which masked a 24% rise in revenue.

Operating income for the refining and marketing segment fell 87% to $227M; income from the smaller speedway and pipeline transportation segments rose to $102M from $76M a year earlier.

Consolidated refined product sales volume rose 33%.

Total costs and expenses rose 34% to nearly $26B.