Valero Has Big Third Quarter

Hurricane Harvey was good for business at Valero Energy.

The San Antonio-based company made 841-million dollars during the third quarter as refinery disruptions caused by Hurricane Harvey pushed profit margins 37 percent higher.

The storm shut down five of Valero’s refineries after it made landfall near Corpus Christi in late August.

Harvey briefly closed down more than 20 percent of the nation’s refining capacity, raising the national average price of gas from two-33 a gallon to two-67 within a couple of weeks.

It has inched back down to about $2.45 per gallon.

 

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