Gas Tax

[Salty]

How much tax do you pay for gas?

 

[InTheLight]

How much tax do you pay for gas?

About 3 times the amount the oil companies make in profit per gallon.

 

[Salty]

About 3 times the amount the oil companies make in profit per gallon.

For the sake of aurgument - Gas is $4 per gallon - .50 of tax = $3.50. How much of that 3.50 is actualy Net profit - (not gross profit)

Lets hear the whole story.

The net profit is about 7 cents per gallon! Which means that direct taxes is about 7 times that of the oil company profit.
Keep in mind other taxes the company must pay ( property, FICA, income, ect) is added to the price of the gas.

 

[InTheLight]

For the sake of aurgument - Gas is $4 per gallon - .50 of tax = $3.50. How much of that 3.50 is actualy Net profit - (not gross profit)

Lets hear the whole story.

The net profit is about 7 cents per gallon! Which means that direct taxes is about 7 times that of the oil company profit.
Keep in mind other taxes the company must pay ( property, FICA, income, ect) is added to the price of the gas.

Consider the source--ExxonMobil. I believe that is old information.

After Katrina, in the summer when gas went over $4.00 a gallon, there were several stories about how the oil companies had doubled their gross profit per gallon, up from 7-8 cents a gallon to 15 cents a gallon.

 

[just-want-peace]

Consider the source--ExxonMobil. I believe that is old information.

After Katrina, in the summer when gas went over $4.00 a gallon, there were several stories about how the oil companies had doubled their gross profit per gallon, up from 7-8 cents a gallon to 15 cents a gallon.

And as much as I hate the price of gas, I just wonder how much of the "several stories" are liberal generated????
Sorta like the plethora of "assault" weapons on the street.

 

[Salty]

Consider the source--ExxonMobil. I believe that is old information.

After Katrina, in the summer when gas went over $4.00 a gallon, there were several stories about how the oil companies had doubled their gross profit per gallon, up from 7-8 cents a gallon to 15 cents a gallon.

In that case, shed some Light with an up to date link

Salty

PS even if 15 cents/gallon NET profit is only 1/4 of the direct taxes per gallon of gas; not 300 %

 

[InTheLight]

In that case, shed some Light with an up to date link

KANSAS CITY, Mo. — The conventional wisdom has been that gasoline shot to about $4 a gallon because the price of oil soared.

But oil refinery profits also have doubled, making that another big reason people are paying more at the pump.

For refineries, their margin is the difference between what they pay for crude oil and what they get for the wholesale gasoline and other products. Those margins have been gradually rising this year and recently were more than double what they were a year ago, when they were 38 cents for a gallon of gasoline.

http://www.knoxnews.com/news/2011/may/17/oil-refiners-big-profits-help-keep-gasoline-prices/

 

[Salty]

You would think of the several oil companies - at least one would sell chepaer gas.



and even with the net profit indicated in the link (if correct) - that is about the same as the direct tax on gas - NOT 3 X's