Valero Energy reports lower quarterly profit on weak refining margins

(Reuters) – Refiner Valero Energy posted a slump in third-quarter profit on Thursday, hurt by falling margins due to a slowdown in fuel demand.

The San Antonio, Texas-based refiner reported net income of $364 million, or $1.14 per share , for the three months ended Sept. 30, below $2.6 billion, or $7.49 per share, last year in the same quarter.

(Reporting by Seher Dareen in Bengaluru; Editing by Maju Samuel)