BP posts major profit after months of sky-high gasoline prices

Energy giant BP reported a massive profit jump in its most recently quarterly earnings report, a smashing return that comes after months of sky-high gasoline prices pinched consumers at the pump and threatened a looming energy crisis. 

The company in its report said it recorded $8.5 billion in underlying profit, up from $6.2 billion from the previous quarter, a near-40 percent spike.

 "This was driven by strong realized refining margins, continuing exceptional oil trading performance and higher liquids realizations," the company said, though it noted that the gains were "partly offset by an average gas marketing and trading contribution."

The company said it continues to progress towards becoming an "integrated energy company" with investments in hydrocarbons and electric vehicle technology. 

The numbers come shortly after fellow major energy players Exxon and Chevron also reported sky-high profits after a quarter of elevated gas prices and high demand.