Refiner Phillips 66 joins rivals in posting sky-high profit

(Reuters) – Phillips 66 on Tuesday became the latest refiner to post bumper quarterly profit, as higher fuel demand boosted margins.

The Houston, Texas-based refiner’s earnings stood at $1.9 billion, or $3.97 per share, for the three months ended Dec. 31, compared with $1.3 billion, or $2.88 per share, a year earlier.

(Reporting by Arunima Kumar in Bengaluru; Editing by Vinay Dwivedi)