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nothing at all.. I paid what I paid.

On the other hand... I'm glad I just quit my job and changed my commute from 75 miles to 7.5 miles.
 

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What really drives me crazy is the way that barrel prices now are fluctuating alot but the pump price hasn't changed that much whereas before the holidays and Katrina if there was even a whisper of an increase the price at the pump shot up. The barrel price currently does not differ so much but at the pump we are 2.34-2.59 now and $3+/- then. Talk about yanking the chain!! I am so happy to have bought a Prius, at least it gives me some peace of mind.
 

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The price at the pump doesn't go up proportionately with the cost of crude oil. The issue with Katrina was more about refining and distribution than per-barrel price of crude oil.

While these numbers are over a year old, you get the idea:

for a gallon of gas at $1.87 (in California):
. Refining Costs: 75 cents, including 5 to 8 cents for oxygenate clean air additive.
. Crude Oil Cost: 61 cents.
. Federal Excise Tax: 18 cents.
. State Excise Tax; 18 cents.
. State/local taxes: 14 cents
. Gas station profit: 1 cent.

Ric
 

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ric said:
The price at the pump doesn't go up proportionately with the cost of crude oil. The issue with Katrina was more about refining and distribution than per-barrel price of crude oil.

While these numbers are over a year old, you get the idea:

for a gallon of gas at $1.87 (in California):
. Refining Costs: 75 cents, including 5 to 8 cents for oxygenate clean air additive.
. Crude Oil Cost: 61 cents.
. Federal Excise Tax: 18 cents.
. State Excise Tax; 18 cents.
. State/local taxes: 14 cents
. Gas station profit: 1 cent.

Ric
Those numbers are highly suspicious.

1. They leave no room for either transportation costs or gas station overhead (and probably other things I'm forgetting about now).

2. I'm assuming the refining cost is an average cost (it's actually very different for different grades of crude oil), but there's no way it can be the same regardless of the cost of oxygenate. I.e., there's no reason the refining cost should by higher for 5-cent oxygenate than for 8-cent oxygenate, which it would have to be in order to come out to 75 cents total.

My bet is that somebody just made up refining and crude oil costs that would leave a one-cent profit for the gas stations, as evidence that the stations weren't gouging.
 

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P.S. regarding gas station profits...

From a Saturday AP story (Brad Foss, author):

"Nationwide, the profit margin on a gallon of gasoline has widened since the start of the year and now is 20.7 cents a gallon - almost double the historical average - thanks to the growing spread between wholesale and retail prices."
 

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coloradospringsprius said:
P.S. regarding gas station profits...

From a Saturday AP story (Brad Foss, author):

"Nationwide, the profit margin on a gallon of gasoline has widened since the start of the year and now is 20.7 cents a gallon - almost double the historical average - thanks to the growing spread between wholesale and retail prices."
OK, so lets say 20 cents a gallon profit (although I doubt it is that high from what I have read), that is a less than 10% profit margin on a $2+ gallon of gas. In the business world that is nothing, most regular consumer items are way way above that. But most of what I have read in the past says the bulk of their profit is from the crap in the quickie mart, not from the gas itself. I want to say that something like 20% of 7-11s profit comes from cigarettes, but I could be wrong.

Never mind the profit margin, even the price is cheaper! Most bottled water is more expensive per gallon than gas. And that supposedly occurs naturally and just needs to be filtered (although some say the water is naturally filtered). Never mind the finding of oil, the extraction of oil (have you priced a deep sea rig lately, they are pricey!), the shipping from extraction point to refinery point (care to price a modern super tanker?), the refinement of oil to gas, dealing with the by products of that refinement, and the shipping to every corner of America. Now you have the purchase or rent of that location, the cost of the pumps, the cost of the tanks, the cost of meeting the environmental laws, the cost of taking your credit card at the pump, etc etc etc. You can see how one would reasonably expect that gas would be far more expensive than bottled water.

I for one hope that oil does go over $100 a barrel; we need to shake up some thinking in this country!

And historically speaking, gas is still very cheap.

Spike
 
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