http://answers.yahoo.com/question/index?qid=20070903072430AAVZcEA
Every source I have found says $.10 or so, nothing says 10%
In a way you are both right...
Generally there are three markups in fuels; refinery, wholesaler and retailer. Also, the profit is not a complete markup as it has to include costs also such as power bills, trucking and distribution, maintenance, employee payroll, etc.
Gross mark up vs. Net profit
.gov is the only entity that gets money for free... ;0)
Either way, a very big gap between that and the state taxes = and even at the highest of those, Calif. at 60cents - explain to me who gets all the rest of the money?
If the state get 60 cents from $3.60 a gallon = $3.00 and the oil company gets, say the higher 10% at .36 cents, where does the other $2.64 go? How much is fed. tax? etc?
What is the total breakdown? I think the American people would like to see that. Are the taxes indeed far more that what the oil companies make?
Seems like there could be a substantial cut in ppg - and the blame may not be on the evil oil companies so much as evil machinations in Washington?