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Re: Voters See These ‘Corporate Welfare’ Programs As A Good Place To Cut Government S
Few things:
Federal gas tax is 18.9 cents per gallon, state tax (Texas) is 20 cents. That's .39 cents or just over 10% of the total cost of a gallon (state average) (link here). The profit to the gas station per gallon is .16, not including CC fees (link here), so based on the 30% model, let's say they're getting about .53 cents per gallon. That puts us at .92 per gallon, or about 25% of the total cost of a gallon of gas.
...you know what? This is better:
Refinery Oil Prices - Cost To Refine Oil Into Gasoline | What It Costs
So, they're making a 10 to 30% profit per gallon of gas....which is about right for the SOP of most businesses.
I agree tess profits are high all around....but were talking about giving BIG OIL free money...just tossing all the american parasites food money at big oil just cuz..
Tess you havent explained to me...how, when big oil raises the price at the pump sky high...and usages goes down...they break profit records...now please explain to me how they arent ROBBING every single american including the parasites that can afford it the least..
The teapartiers on here that rail on and on about parasitic poor americans getting a pittance for free...and senior on SS that they paid into for decades have NO Problem with big oil robbing them and driving the cost of EVERYTHING sky high...I cant compute that much hypocrisy sorry tess...
Few things:
Federal gas tax is 18.9 cents per gallon, state tax (Texas) is 20 cents. That's .39 cents or just over 10% of the total cost of a gallon (state average) (link here). The profit to the gas station per gallon is .16, not including CC fees (link here), so based on the 30% model, let's say they're getting about .53 cents per gallon. That puts us at .92 per gallon, or about 25% of the total cost of a gallon of gas.
...you know what? This is better:
Generally speaking, since there are so many variables to consider, precise cost breakdowns are difficult to ascertain. According to the Energy Information Administration (EIA), however, which issues the “Official Energy Statistics from the U.S. Government” the average cost at the pump for a gallon of gasoline is broken down as follows:
•74% - Cost of the crude oil
•11% - Taxes
•10% - Refining costs
•5% - Distribution and marketing
In a simple illustration, let’s assume an oil company is paying $100 for a barrel (42 gallons) of basic crude oil. Their cost for a gallon will be about $2.38. At a gasoline-pump price of $4.00 per gallon, 44 cents has to pay for taxes and 20 cents for distribution and marketing expenses. This leaves $3.36 for the oil companies. Out of that total they have to pay for the cost of the gallon of crude oil itself which was $2.38 and also the 40 cents to refine it into gasoline. This leaves $0.58 profit per gallon of gasoline. As noted, however, depending on which report one looks at, this profit-margin can range anywhere between an estimated 30 to 60 cents per gallon.
Refinery Oil Prices - Cost To Refine Oil Into Gasoline | What It Costs
So, they're making a 10 to 30% profit per gallon of gas....which is about right for the SOP of most businesses.