Refining and Marketing Bhd’s net profit for its fourth quarter ended Dec 31,2020 rose 45% to RM42.02mil from RM28.97mil in the previous corresponding period, boosted by improved refining margins and net inventory gains from recovering oil prices in the final quarter of 2020.
In a statement, it said revenue in the fourth quarter was, however, lower at RM1.51bil, compared with RM2.91bil a year earlier.
“Petron’s sales volume in the fourth quarter of 2020 was, however, still lagging versus the same quarter in 2019 due to the implementation of another conditional movement control order, slowing down movement and economic activity.
3 hoeupb 27 a gallon, that means you pay the following . we have a fox business network contributor in chicago on the floor. phil. what are they saying about how gas will go? reporter: they are saying incredible numbers. probably you don t want to hear. most people think that we are on a path to $4.25 a gallon. there are many people down here that will tell you that we will see $5 and higher. a lot of course that has to do with the price of crude. the chart you showed about what we pay for oil, that 80%, that is the highest it s ever been. it used to be 50% with the cost of crude oil and refining. that s gone up over 30%, that is squeezing refining margins. bill: it shifts significant amounts of money into different areas of the economy. you re talking about $92 billion