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Sigh. The government wants to launch an investigation of gas prices. I have an investigation right here. It's symbolic, I realize, and political, but stupid. Oil is a commodity and the market dictates the price. Anyway....
Oil/Gas companies make an average profit of about 7.3-8 cents per gallon. That's profit. When you stop to think of the millions (billions?) of gallons sold daily in the US, that's a lot of profit.
The taxes (which vary by state) run an average of 40 cents/gallon. 18.4 cents federal, and anywhere from 14 to 44 cents state.
So let's see...who is getting more money from a gallon of gas?
Yeah, yeah, I know....taxes go to "the public". I still find it disgusting that taxes on gas are about 5 times the profits on a gallon, yet the government who levies the taxes wants to investigate the oil companies about them making too much money.
Sigh.
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