The oil companies and their shareholders see the writing on the wall and would rather break the world than to conduct fair business. They'd rather wring every last dollar out of normal people in a vain attempt to rob everyday people of their last cent in the hopes that desperation will breed obedience. With a crooked Republican party in control, that's beholden to Oil stock, and a con man in charge of them..., Big Oil stood a chance of maintaining their grip upon humanity for far longer than if progressive environmental types begin to force alternative energies.
This is a concerted and planned attack upon the administration itself in an indirect manner. There are no reasons for these recent raping's at the pump other than to say that Big Oil wants you to believe that it's policy and not their politics doing this
These recent increases are in no way a part of supply and demand dynamics.
@BizSuitStacy When oil companies raise the price of a gallon of gas by a single penny they make $4 billion dollars more in a single day selling to US consumers.
@BizSuitStacy The federal gas tax has been stuck at 18.4 cents a gallon since 1993 which is well below the profit per gallon for oil companies. (Not to be mistaken with the Gas Stations themselves) They make a Preset amount per gallon which tends to hover around 50 cents per gallon. With most available data broken down by days of sales at best a lot of math goes into the other exact answer.
@HikingMan 19 cents federal. Up to 75 cents per gallon in some states. Then you have variable county, city and sales tax. In WA state where I live, federal, state, county, city and sales taxes add up to about $1.25 per gallon. We pay just south of $6 for 87 octane. It's harder to unpack, as there is a lot of processing between crude oil to gasoline. Soup to nuts, Exxon makes about $0.08 cents per gallon. Profits may be higher as reported earnings are up, but it's the gov't sticking their hands deeper into your pocket.
