Their biggest profit centers are in lubricants; does the 8% number come from a extrapolation of a quarterly report? Chevron was extremely solid for a number of years for profit on gasoline - 2.5% net margin (or 10 cents at 4.00)
Well you are correct.
My figure represented their corporate net profit, not the net profit on gasoline by itself. I have never dug, as you did, deeper into their net income by the different lines of business. Thanks for setting that straight.
And, as correct as you are about that, it shows that even if they produced and sold LESS gasoline from oil, their net profit - as a % of revenue - might actually be higher.