Wednesday, June 11, 2008

Who's Gouging You?

You may have seen the new link to the right talking about industries that have a higher profit margin than "big oil". Here's another thought for you. The United States Federal Government imposes a tax of $0.184 per gallon on your gasoline. States take more, so on average, you're paying at least $0.40 per gallon to the government. For your total fuel taxes, visit this site. The figures I have heard, put the oil company profit per gallon of gasoline at between $0.04 to $0.09 per gallon.

That's right, the Federal Government alone takes a profit of 18.4 cents per gallon, while the oil companies make a profit of 9 cents per gallon, which is less than half of just the Federal take. In California, I pay 45.5 cents to the State alone, for a total of 63.9 cents worth of taxes. Who's really gouging you?

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