July 23, 2012. RIL is set to gain on a rebound in profit from turning crude into fuel from the lowest in more than a year as the U.S. and China seek to revive growth. Profit from turning Dubai crude into fuel in Singapore, a regional benchmark, averages $4.26 a barrel this month, compared with $3.37 in the three months ended June 30, the lowest since December 2010. Turning Dubai crude into diesel in Singapore is the most profitable since January. Reliance, which gets more than 77 percent of its revenue from refining, reported a margin of $7.60 a barrel in the three months ended June 30. That helped it beat analysts' estimates for net income for the first time in seven quarters even as earnings dropped 21 percent on slowing demand. The improved margins helped the company, beat analysts' estimates by 2.3 percent in the three months ended June 30.