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ohliz posted an update Thursday, May 16, 2013, 5:39pm EDT, 12 years, 4 months ago
Hmmm you want greed re gas prices? Look to the federal government. The feds profit is around 60 cents per gallon or 750% of that of the actual producers.
If oil companies cut their profit margin by 50% the gallon price would drop by only .04 cents per gallon.
If Washington lawmakers were to drop their take by 50% gas would cost 30 cents less.
If the federal government didn't tax gas at all the price at the pump would be 2.40 per gallon and the profit for the oil companies would still be a respectable 2.5% gross profit margin. Now who is gouging whom?
Now you can go ahead and factor in STATE taxes.