OIL COMPANY PROFITS LAST QUARTER
7 cents per gallon = 2% of sale price*
GOV'T (U.S. + State) PROFIT (TAX) ON GASOLINE
40 - 60 cents per gallon = 11 - 16% of sale price*
and we need to tax these fat-cat oil companies more ?
and we need to tax these fat-cat oil companies more ?
""For every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents," said a statement from Exxon vice president Ken Cohen. "Compare that to the 40 to 60 cents per cents per gallon that went to the government (state and federal) in gasoline taxes."
[CNN MONEY] * at $3.75/gal retail price
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