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re: Oil prices expected to drop? "Expect $50 oil, but not $2 gas"

Posted on 7/15/13 at 9:04 am to
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69933 posts
Posted on 7/15/13 at 9:04 am to
Isn't like 55% of the cost of a gallon of gas excise tax? I know gas is one of the most taxed consumables in America. Cigarettes are 78% tax.
Posted by dewster
Chicago
Member since Aug 2006
25395 posts
Posted on 7/15/13 at 9:09 am to
quote:

Isn't like 55% of the cost of a gallon of gas excise tax?


Not sure about that. I did read an article recently that indicated that the average tax rate for a gallon of gasoline was higher than the average profit realized per gallon though.
Posted by whodatigahbait
Uptown
Member since Oct 2007
1757 posts
Posted on 7/15/13 at 1:18 pm to
quote:

Isn't like 55% of the cost of a gallon of gas excise tax?


epic fail

but this should be what you are looking for as far as breakdown

LINK

quote:

No I get that, but how much of your purchase price is tax. In other words, what does Exxon pay in tax per gallon, thus driving your purchase price up, thus driving your customer's purchase price up?


Exxon's cost are baked into the cost of the barrel of oil, it varies state but it's not close to 55% I can promise you that
This post was edited on 7/15/13 at 1:23 pm
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