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Old 04-23-2007, 08:40 AM  
Donger Donger is offline
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Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

Last edited by Donger; 10-10-2014 at 01:43 PM..
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Old 08-06-2007, 10:35 AM   #376
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Old 08-06-2007, 10:39 AM   #377
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Old 08-06-2007, 10:41 AM   #378
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Old 08-06-2007, 10:45 AM   #379
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Old 08-06-2007, 10:49 AM   #380
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FINALLY under $3.00 in my area - I assume it won't last long, though. Still well over $3.00 in the city.

For some reason, Chicago has really been singled out this year. ****ers.
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Old 08-06-2007, 10:55 AM   #381
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Quote:
Originally Posted by frazod
FINALLY under $3.00 in my area - I assume it won't last long, though. Still well over $3.00 in the city.

For some reason, Chicago has really been singled out this year. ****ers.
By '****ers,' I assume you mean local and state politicians?



But don't blame the oil companies for singling out Chicago, says Dave Sykuta of the Illinois Petroleum Council. The real culprit is taxes.

* While only nine states and the District of Columbia allow sales taxes on gasoline at all, Illinois not only has a sales tax but it has the biggest one -- 5 percent.

* Illinois is also the only state that allows local taxing bodies to pile on; that means the city of Chicago and the Regional Transportation Authority get an additional 4 percent, bringing the sales tax in Chicago to 9 percent.

* Then Chicago also grabs an additional 5 cents a gallon and Cook County takes an additional 6 cents a gallon.

* Add in the federal and state motor fuel taxes, which are earmarked to fund roads, and you get nearly 80 cents a gallon for taxes.

But it's the sales taxes that bring on the big hurt, according to Sykuta. Because they are a percentage, more taxes get paid as the price of gas goes up.

"We're the biggest tax collector outside of the IRS," Sykuta said of the service station industry.
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Last edited by Donger; 08-06-2007 at 11:10 AM..
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Old 08-06-2007, 11:09 AM   #382
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Heard an interesting thing from my Uncle, said that one of his friends was laughing about the "shortage" stuff saying that their refinery was only running at 30% because all the tanks were full.

I trust my uncle, but of course don't know his friend, but still thought it was funny.
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Old 08-06-2007, 11:15 AM   #383
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Quote:
Originally Posted by morphius
Heard an interesting thing from my Uncle, said that one of his friends was laughing about the "shortage" stuff saying that their refinery was only running at 30% because all the tanks were full.

I trust my uncle, but of course don't know his friend, but still thought it was funny.
That's possible on a refinery by refinery view, but overall gasoline production was at record levels last week. That's why prices are dropping despite crude rising.
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Old 08-06-2007, 11:20 AM   #384
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Quote:
Originally Posted by Donger
By '****ers,' I assume you mean local and state politicians?



But don't blame the oil companies for singling out Chicago, says Dave Sykuta of the Illinois Petroleum Council. The real culprit is taxes.

* While only nine states and the District of Columbia allow sales taxes on gasoline at all, Illinois not only has a sales tax but it has the biggest one -- 5 percent.

* Illinois is also the only state that allows local taxing bodies to pile on; that means the city of Chicago and the Regional Transportation Authority get an additional 4 percent, bringing the sales tax in Chicago to 9 percent.

* Then Chicago also grabs an additional 5 cents a gallon and Cook County takes an additional 6 cents a gallon.

* Add in the federal and state motor fuel taxes, which are earmarked to fund roads, and you get nearly 80 cents a gallon for taxes.

But it's the sales taxes that bring on the big hurt, according to Sykuta. Because they are a percentage, more taxes get paid as the price of gas goes up.

"We're the biggest tax collector outside of the IRS," Sykuta said of the service station industry.
At 9% plus the tax folks are making a hell of a lot more per gallon than the retailer and the wholesaler, talk about windfall gouging, where is the outrage, where is the congressional hearings, oh yea that's right taxes are good, corprate profits are bad.
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Old 08-06-2007, 12:07 PM   #385
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Originally Posted by redbrian
At 9% plus the tax folks are making a hell of a lot more per gallon than the retailer and the wholesaler, talk about windfall gouging, where is the outrage, where is the congressional hearings, oh yea that's right taxes are good, corprate profits are bad.
Indeed, but most people are not aware of how gasoline prices are broken down. Oil company profits are top news, however.
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Old 08-06-2007, 12:24 PM   #386
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Donger, just out of curiosity, what are the expected margins for jobbers these days?
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Old 08-06-2007, 12:27 PM   #387
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Originally Posted by Fat Elvis
Donger, just out of curiosity, what are the expected margins for jobbers these days?
They make about $0.05/gallon, I think.
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Old 08-06-2007, 12:32 PM   #388
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Quote:
Originally Posted by Donger
They make about $0.05/gallon, I think.


I don't think that's right at all. I know that's what they SAY, but my wife runs a station and they do their best to keep that information away from managers even. Station owner ****ed up one day though and forgot some of his paperwork when he left. I was surprised to see he was paying 2.13 a gallon for stuff he was selling at 2.69.


Edit: The reason I say "think" is the way that the paperwork was outlined would lead me to believe that was the price paid, but it may not have been. So, it's speculation on my part.
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Old 08-06-2007, 12:35 PM   #389
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It's down to $2.71 where I live, hopfully it keeps going down more before it sky rockets again.
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Old 08-06-2007, 12:35 PM   #390
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Quote:
Originally Posted by Mr. Flopnuts
I don't think that's right at all. I know that's what they SAY, but my wife runs a station and they do their best to keep that information away from managers even. Station owner ****ed up one day though and forgot some of his paperwork when he left. I was surprised to see he was paying 2.13 a gallon for stuff he was selling at 2.69.


Edit: The reason I say "think" is the way that the paperwork was outlined would lead me to believe that was the price paid, but it may not have been. So, it's speculation on my part.
Well, that wasn't the question. Jobbers are the middlemen, not the retailers.
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