[Constitutions Grandchild]

Divide $131.90 by 42 (no. of gallons in barrel) which equals $3.14 of the $3.89 we pay at the pump, add the state and federal taxes of approximately $.36 which brings it to $3.50 out of the $3.89 we pay at the pump. Out of the remaining $.50 the oil companies have to refine it and pay salaries. Whatever is left over is “profit”. Now you tell me how they're raping us at the pump.

It's so simple a caveman could do it. What's wrong with Congress? Are any of them smarter than a 5th grader??? I'm thinking the folks running the country may need remedial math. It was my poorest subject, but even I get it.

How simple do you have to make it. Less supply/greater demand from emerging economies who are bidding up the price because in order to maintain their economic growth they must have it and suddenly (when combined with a weakening dollar) you have critical mass. These “pinches” can't be managed to occur when you're prepared for them. We can do a lot in America, but I'm thinking that's beyond even our ability.

[MNJohnnie]

add the state and federal taxes of approximately $.36

Absolutely false. Depending on where you live the State tax is anywhere from $.46 to $.73 a gallon then the Feds add an additional $.18 Fed gas tax on top of that then there is the indirect taxes, such as property taxes, corporate income taxes etc, the Oil Companies pay that get added on to of that. What the Govt gets is anywhere from 20-35% of the cost of each and every gallon of gas.

[MNJohnnie]

This is from 2005 it is way out of date because a number of these states have raised their gas tax since.

[hotshu]

Actually the amount of gasoline in a barrel of oil is only about 25 gallons, the remaining 40% in made into other products - diesel, jet fuel, fuel oils, etc. Assuming that the production costs are relatively equal for all content of the barrel, the $3.14 per gallon might still be the valid starting point for your analysis. You just need more barrels for a given quantity of gasoline.

ref:

http://tonto.eia.doe.gov/dnav/pet/pet_pnp_wiup_dcu_nus_w.htm

[deport]

Divide $131.90 by 42

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You don’t get 42 gallons of gasoline out of a 42 gallon barrel of crude. You get about 20 gallons of gasoline and the remainder is in the form of diesel, jet fuel and other products....

[PugetSoundSoldier]

Out of the remaining $.50 the oil companies have to refine it and pay salaries. Whatever is left over is “profit”. Now you tell me how they're raping us at the pump.

Don't forget that for every $1.00 in profit the gas company makes, they pay $3 in Federal taxes and duties! That's ABOVE AND BEYOND the basic tax rate on fuel...

The Feds get a direct cut from the consumer (the direct tax per gallon) AND an indirect cut via taxation on the oil company. In actuality, the Feds make around $0.50 per gallon, and the oil companies make around $0.08 per gallon.

States and local municipalities just add a bigger take...

[Doe Eyes]

Divide $131.90 by 42 (no. of gallons in barrel)

Exxon doesn't pay $131.90 for the oil it produces.

[MosesKnows]

Divide $131.90 by 42 (no. of gallons in barrel) which equals $3.14 of the $3.89 we pay at the pump

I follow your premise but your calculations are highly flawed but easily corrected. A barrel of crude is 42 gallons and due to chemicals added during the refining process yields a little over 44 gallons of product. However, only 19.5 gallons of that 44 gallons of product is gasoline.