Chart ‘o the Day October Update – Gas Prices At The Pump

 

Find updates to this chart and some other really informative information here at dshort.

I was also asked what makes up the cost of a gallon of gas, here is a good infographic:

Who makes the most money from a gallon of gas?

Local, state and federal government – they also have no risk of exploration, production, transport, refining or distribution. Pretty sweet, huh – 100% profit with nothing at risk.

This WSJ article was written August but still is valid:

With the average price of gas in America hovering around $3.50 per gallon for regular unleaded, it costs more than $50 to fill a typical car’s 15-gallon tank this summer. Why does gas cost so much?

You may blame high gas prices on rich oil company executives or greedy gas station owners. The truth is that governments rake in a larger profit at the pump than anyone—and with gas taxes on the rise in many parts of the country, there’s no relief in sight.

The price of a gallon of gas is based on the combination of four costs: that of crude oil, of refining gas, of distribution and marketing, and of taxes…

Put this all together, and government makes far more from gas sales than all of the oil companies put together. Exxon, for example, made only seven cents per gallon of gasoline in 2011. That’s a drop in the bucket compared to the nearly 50 cents per gallon that federal, state and local governments rake in on an average gallon of gas pumped in the U.S.

12 thoughts on “Chart ‘o the Day October Update – Gas Prices At The Pump

  1. Kells,
    I’ll sum it up for you. Copied from other comment.

    The “government” makes more money on taxes for the energy than ANY of the actual owners or producers or providers.

    That’s equitable. NOT !

    Those actually working to provide a good or service make less $ than the taxing authorities ?

    And everyone wants to know what is wrong with our economy?

  2. So, the highways will pay for themselves? The government doesn’t just pocket this, idiot. And should we forget about the billions in taxpayer dollars that built the Interstate under Eisenhower? Drive your oil in tanker trucks on back roads along with the rest of you moonshiner–oops, sorry–Utah–I mean jello makers.

    • Apparenrtly PFG believes it is equitable for “government” to confiscate more money than the resource owners, producers, & providers earn. The people who own the resources and do ALL of the work and take all of the financial risk. PFG believes confiscatory taxes are justified because roads and highways are built? I’m sure there is NO waste by “government” in accomplishing that goal either.

      So when do taxes cease to be equitable, when they become so high that the taxpayers no longer have any resources to pay taxes, or when the taxpayers flee to other places in order to avoid the oppressive taxes? Much like the American colonists and modern day immigrants.

    • No they don’t pocket it, you moron. Let me ask you this, genius…where exactly did the government get the money in the first place?

      That would be taxpayers.

      As I have stated before, the Eisenhower interstate highway system was built as a national defense highway for the rapid transit of military hardware, so the building of this system squarely fits within the remit of the federal government.

      So, we actually did build that.

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