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OneTwoThree OneTwoThree is offline
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Default Oil chiefs say high prices not our fault


wrote in message
news
On Wed, 2 Apr 2008 09:42:25 -0800, "SteveB"
wrote:

The oil companies make 8 cents a gallon. Various governments tax it over
a
dollar a gallon. Do the math, you ****ing genius.



Bull****

http://www.gaspricewatch.com/usgastaxes.asp



interesting but confusing read. you have to add the federal 18 cents per
gallon to the state tax in the appropriate column, then get out the
calculator to factor in the sales taxes and other taxes that are a
percentage of the sales price. In California, for example, you have to add
the 18 cent federal tax to the 18 cent state tax, arriving at 36 cents,
which does not include the 7-8.5% sales tax, depending on the county. plus
the additional 1.2 cents per gallon UST fee, whatever that is. If my math is
correct, when a retailer sells gas for 3.56 (the cost at the cheapest place
here in town) that price includes about 40 cents sales tax. add the 36 cents
state and federal taxes, and you are getting about 76 cents in taxes on a
gallon of gas, or a total tax rate of over 20% per gallon. That's a pretty
hefty tax.

(note - my math may be off a few cents. it would help if I knew the real
wholesale cost and the profit margin of the seller)


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