Wednesday, May 4, 2011

Gas: price per gallon, cost per gallon, tax per gallon, and profit per gallon of gas

*Based on US Energy Information Administration data

assuming:
$4.00 for a gallon of gas and $110 for a barrel of crude oil...

$2.760 per gallon of gas for the finding and extraction of crude oil
$0.320 per gallon of gas for refining the crude oil into liquefied petroleum
$0.347 per gallon of gas for transportation and storage
$0.133 per gallon of gas for the gas station (equals and balances operating costs)
$0.184 per gallon of gas for the Federal Gas Tax
$0.220 per gallon of gas for the national average of State Gas Taxes
[in New York State the tax per gallon of gas is $0.319:
$0.080 excise tax
$0.152 Petroleum Business Tax
$0.083 Sales Tax
$0.003 Spill Tax
$0.005 Petroleum Testing Fee
$0.079 County Sales Tax average]

$0.030 to 0.020 per gallon of gas is Profit Margin