Reuters: Regulatory News: High crude costs weigh on Marathon Petroleum's profit

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High crude costs weigh on Marathon Petroleum's profit Aug 1st 2013, 11:23 Thu Aug 1, 2013 7:23am EDT Aug 1 (Reuters) - Marathon Petroleum Corp, the third-largest standalone U.S. refiner, reported a lower quarterly profit due to higher costs of the crude oil it processes. The company, spun off from Marathon Oil Corp in 2011, said its net profit fell to $593 million, or $1.83 per share, in the second quarter from $814 million, or $2.38 per share, a year earlier. Revenue and other income rose 27 percent to $25.70 billion.

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