zhunter Posted July 10, 2009 Share Posted July 10, 2009 OK, a few weeks ago the price of a barrel of oil was in the $74 range, today it is near $59 a barrel. That is a drop of a bit over 20% WHY have the gas prices not gone down 20%???? This is NOT right!!! Link to comment Share on other sites More sharing options...
al503 Posted July 10, 2009 Share Posted July 10, 2009 The oil exec that just got the 100' yacht last year is drooling over a 150' yacht this year. Link to comment Share on other sites More sharing options...
Sean Gaines Posted July 10, 2009 Share Posted July 10, 2009 there is no direct correlation between the price of oil and gas, oil is a commidity and gas prices is regulated by the companies who refine the oil into gas. So if you want to get mad at someone look at exxon, chevron and all the other refiners. Look at the price when it was $140 a barell we were paying over $4 a gallon for gas, when oil went down to $40 a barrel we didn't see gas in the $1range where it should have been if it was directly correlated. So there you have it. Link to comment Share on other sites More sharing options...
HSMITH Posted July 10, 2009 Share Posted July 10, 2009 If you want to be pissed at anyone be pissed at your federal, state and local governments. The oil companies make 15% or a bit less on a gallon of gas, and 15% is not a high margin when compared to other businesses. The oil companies make their 15% on the wholesale price. Gas here is $3 a gallon, the state tax is 33 cents per gallon and the federal tax is almost 19 cents per gallon. 52 cents per gallon in federal and state taxes. That takes it to $2.48 a gallon, the retailer is making around 10% on a gallon, or roughly 25 cents taking it to $2.25. With transport costs and other costs subtracted the wholesale price of gas right now is around 2.10 per gallon, meaning the oil company is taking about 31 cents, or taking over 40% LESS out of your pocket than the TAXES on a gallon of gas! The oil companies provide a product we need, pay incredible sums in corporate taxes, employ people that pay taxes, and support a distribution and retail chain that again pays taxes and employs people that pay taxes. Distill all that down and 70% or so of each dollar spent on gasoline is going to TAXES. I support the oil industry making money, I hope they make record profits every year. It is what good businesses do, and good businesses are stable employers, good citizens and stable tax streams. Link to comment Share on other sites More sharing options...
GentlemanJim Posted July 10, 2009 Share Posted July 10, 2009 If you want to be pissed at anyone be pissed at your federal, state and local governments. The oil companies make 15% or a bit less on a gallon of gas, and 15% is not a high margin when compared to other businesses. The oil companies make their 15% on the wholesale price. Gas here is $3 a gallon, the state tax is 33 cents per gallon and the federal tax is almost 19 cents per gallon. 52 cents per gallon in federal and state taxes. That takes it to $2.48 a gallon, the retailer is making around 10% on a gallon, or roughly 25 cents taking it to $2.25. With transport costs and other costs subtracted the wholesale price of gas right now is around 2.10 per gallon, meaning the oil company is taking about 31 cents, or taking over 40% LESS out of your pocket than the TAXES on a gallon of gas! The oil companies provide a product we need, pay incredible sums in corporate taxes, employ people that pay taxes, and support a distribution and retail chain that again pays taxes and employs people that pay taxes. Distill all that down and 70% or so of each dollar spent on gasoline is going to TAXES.I support the oil industry making money, I hope they make record profits every year. It is what good businesses do, and good businesses are stable employers, good citizens and stable tax streams. Oh Howard...you cant change peoples minds with FACTS Those who want to blame industry for the ills of the world ...can only be swayed with lies and jealousy! Silly Howard Link to comment Share on other sites More sharing options...
outerlimits Posted July 10, 2009 Share Posted July 10, 2009 just like ammo components-precious metal prices are a fraction of what they were a year ago. you see any cheap brass, bullets or primers? Link to comment Share on other sites More sharing options...
al503 Posted July 10, 2009 Share Posted July 10, 2009 I have some fellow alumni that do work for the oil biz. From what they tell me, (and not what you can find on the internet, although there is accurate information out there) fed/state/local taxes average about .45 to .50 per gallon depending on the state. There are the above mentioned transportation costs but a good %, of that is passed on to the consumer, which is one of the factors of why those of us in the NW pay a lot more than those in other parts of the country that are closer to the refineries. I hope no one mistakes my first post above as blaming the oil industry for the ills of society. I'm all for the market setting the price. It just so happens that the market price makes it very fortuitous to be an exec in the oil industry at the moment, imho. From some of the stories I've heard , you betcha I'm jealous. Link to comment Share on other sites More sharing options...
Viggen Posted July 10, 2009 Share Posted July 10, 2009 It's never quite as simple as the "market" setting the price especially in the type of economy that we live in, one so totally dominated by the government/industrial alliance. It seems that the factor called "politics" also greatly affects prices. And around here the price of what they are calling gas has dropped some 15-20 cents in the past few weeks. Link to comment Share on other sites More sharing options...
larry cazes Posted July 10, 2009 Share Posted July 10, 2009 If you want to be pissed at anyone be pissed at your federal, state and local governments. The oil companies make 15% or a bit less on a gallon of gas, and 15% is not a high margin when compared to other businesses. The oil companies make their 15% on the wholesale price. Gas here is $3 a gallon, the state tax is 33 cents per gallon and the federal tax is almost 19 cents per gallon. 52 cents per gallon in federal and state taxes. That takes it to $2.48 a gallon, the retailer is making around 10% on a gallon, or roughly 25 cents taking it to $2.25. With transport costs and other costs subtracted the wholesale price of gas right now is around 2.10 per gallon, meaning the oil company is taking about 31 cents, or taking over 40% LESS out of your pocket than the TAXES on a gallon of gas! The oil companies provide a product we need, pay incredible sums in corporate taxes, employ people that pay taxes, and support a distribution and retail chain that again pays taxes and employs people that pay taxes. Distill all that down and 70% or so of each dollar spent on gasoline is going to TAXES.I support the oil industry making money, I hope they make record profits every year. It is what good businesses do, and good businesses are stable employers, good citizens and stable tax streams. Nice analysis. Reality sucks, huh? Link to comment Share on other sites More sharing options...
schmitz Posted July 10, 2009 Share Posted July 10, 2009 just like ammo components-precious metal prices are a fraction of what they were a year ago. you see any cheap brass, bullets or primers? Someone is getting rich...we're just consumers. Link to comment Share on other sites More sharing options...
J-Ho Posted July 10, 2009 Share Posted July 10, 2009 just like ammo components-precious metal prices are a fraction of what they were a year ago. you see any cheap brass, bullets or primers? Someone is getting rich...we're just consumers. The beautiful thing is we can all own a piece of these companies. The are all publicly traded. Link to comment Share on other sites More sharing options...
schmitz Posted July 10, 2009 Share Posted July 10, 2009 Hmmmm, so true! Starline...Winchester...Berry's...Vitha? Stock! Link to comment Share on other sites More sharing options...
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