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Consumption of gasoline and jet fuel surged in the quarter as people resumed travel and business activity picked up, following a year of coronavirus-driven decline in demand.
Kinder Morgan, which transports nearly 40% of the natural gas consumed in the United States, said gasoline volumes rose 7% while jet fuel volumes jumped 48%.
However, the company’s natural gas transport volumes were down 3% with declines on Colorado Interstate Gas Pipeline, hurt by lower output in the Rockies basin.
Adjusted profit rose 0.82% to $609 million in the fourth quarter ended Dec. 31, from $604 million a year earlier.
