[George Klass]

.........who gets the money?

I thought that I read on the YB at some point that state and federal taxes are the majority recipients of the money that goes toward a gallon of gasoline. Apperently this is not true. The U.S. Dept. of Energy realeased this breakdown:

$0.18 - Federal taxes
$0.22 - State taxes (the national average)
$0.28 - Distributors & marketers (includes the gas station owners)
$0.36 - Refiners
$2.96 - Oil producers

Now, I'm assuming that the larger oil producers are also the owners of the refineries and also the distributors and marketers, in which case the oil producers are making $3.60 on a $4.00 gallon of gasoline. The poor dears, no wonder they need our government to continue to subsudize their industry.

 

[Outlaw Bill]

Smoke and mirrors George.

 

[excelerater]

Then Legalize Pot,tax it and lift all petrol taxes

 

[DCarr]

I dont know about that break down and the Distributors / Marketers getting .28 per gallon. The Kroger stores and Costco around here ( Mid. TN. ) are generally .10 cheaper than other retailers, of course a membership or min. in store purchase is required.

And it also seems around here that retailers in smaller towns that are farther away from the refineries are selling their fuel for .10 -.12 a gal. cheaper than larger towns that are closer to the refinery.

Last year I went on a trip for 31 days and drove just over 7,000 miles from TN. to Kalifornia and found the same to be true Smaller towns out in the middle of nowhere for the most part were cheaper than larger towns. With Lake Havasu Az. being the cheapest.

 

[George Klass]

I think that these DOE numbers were national averages.

 

[Chuck L.]

.........who gets the money?

I thought that I read on the YB at some point that state and federal taxes are the majority recipients of the money that goes toward a gallon of gasoline. Apperently this is not true. The U.S. Dept. of Energy realeased this breakdown:

$0.18 - Federal taxes
$0.22 - State taxes (the national average)
$0.28 - Distributors & marketers (includes the gas station owners)
$0.36 - Refiners
$2.96 - Oil producers

Now, I'm assuming that the larger oil producers are also the owners of the refineries and also the distributors and marketers, in which case the oil producers are making $3.60 on a $4.00 gallon of gasoline. The poor dears, no wonder they need our government to continue to subsudize their industry.

X2

 

[Mike DeMayo jr]

What i don't understand is that the price of oil went down $20 a barrel to $120 from a record high of like $147 dollars a barrel, but the price at the pump only went down 10 cents from 3.99 to 3.89. so i guess if it goes to $70 a barrel we can expect it to be $360 a gallon.. Whats up with that?

 

[GrahamHill]

What i don't understand is that the price of oil went down $20 a barrel to $120 from a record high of like $147 dollars a barrel, but the price at the pump only went down 10 cents from 3.99 to 3.89. so i guess if it goes to $70 a barrel we can expect it to be $360 a gallon.. Whats up with that?

They go up 5 times a day and take a week to go down, its how the pumps make money

 

[taxman]

You should note that the oil companies share of being "oil producers", the guys you love to hate (EXXON, Shell, Hess, etc.) are about 6% of that portion of the world market. The other 94% of "oil producers" are sheiks, princes, dictators and gangsters. Since we use about 25% of the world's oil, our own oil companies are not making the big money those numbers show, the despots are.

 

[George Klass]

And as far as profits go, even though Exxon-Mobil netted about $40-billion in 2007, the average profit margin for the big oil companies is only about 7.6% (according to the DOE), compared to 9.2% for most manufacturers. So much for assessing a "windfall profits tax".