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GasBuddy News Article

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Where all that gas money of yours is going Read more: Where All That Gas Money Of Yours Is Going |

Bankrate -- Markets, taxes and other factors add up to the price you pay at the pump.
A trade group crunches the numbers to show how your gas money is divided.
If you want to be a geek about it, you can calculate your own gas price breakdown.
Auto ยป Where All That Gas Money Of Yours Is Going
Gas prices got your attention? You're probably asking where all the gas money you're shelling out at the pump is going.
There are a couple of ways of answering that.

Industry shows how gas price breaks down
The American Petroleum Institute, or API, has a general breakdown for you. According to the trade group's February estimates, most of what you pay for gasoline -- 71 percent -- goes to refineries, to buy oil.
API says it takes one gallon of oil to make a gallon of gasoline



Read the Full Article

Submitted Jul 01, 2012 By: mastermariner
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Where all that gas money of yours is going Read more: Where All That Gas Money Of Yours Is Going | Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Jul 3, 2012 3:20:32 AM

do I trust the industry to give me straight up figures?
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sjf238
Champion Author Philadelphia

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Message Posted: Jul 2, 2012 9:45:40 AM

Interesting.
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Wanda127
Champion Author Florida

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Message Posted: Jul 1, 2012 7:48:39 PM

Well said eomc17. I will have not ever voted for Obama & after the last 4 years I sure will not vote for him in Nov. 2012.
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eomc17
Champion Author Tucson

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Message Posted: Jul 1, 2012 5:31:56 PM

This passage disturbs me.
''The American Petroleum Institute, or API, has a general breakdown for you.''

What I don't get is that before 2003 I have NEVER seen gas prices over 1.60$ a gallon. Since the Iraq War, I have never seen gas prices go under 1.49$ a gallon. I have seen gas prices as high as 4.77$ a gallon back in 2008.

Bush's repeated commodity trading deregulation has allowed speculators and big oil to exercise more muscle and manipulation than ever before and Obama refuses to "reign in speculators", like he told Congress to do, on two occasions, on public TV.

If Obama really wanted to, he would have offered Congress and / or the CFTC some money to implement the necessary legislation and ability to monitor speculator compliance but he would rather spend our tax dollars on other things that do not make our lives any better and more affordable. And he won't let the voters decide if they want ethanol in their engines or not. Shouldn't the government pay for the cars this ethanol fuel are destroying?

Obama still refuses to tell the public just EXACTLY how much Obamacare will cost us or who is really behind the cover-up of Fast and Furious. Do you people want this power hungry socialist to run our country another four years??? I don't and will NOT vote for this liar again.
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MAC48
Champion Author Dallas

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Message Posted: Jul 1, 2012 4:08:33 PM

The breakdown of 71% crude oil price, 15% refining/transporting/distrubiting costs and 14% tax levy on motor vehicle fuel users is a bit misleading. I would be willing to bet that the 14% tax costs levy is the direct tax paid at the pump in the form of motor vehicle fuel user tax. In addition to this direct motor vehicle fuel user tax there are multiple taxes buried in the cost of the crude oil and in the cost of the refining/transporting/distrubiting charges in the form of property taxes, severance taxes, sales taxes, use taxes, income taxes(from Federal, state and local tax authorities), occupation taxes, gross receipts taxes, right-to-do-business taxes, etcetara. The point is that the direct tax cost charged at the pump is but a small piece of the total tax cost actually paid or reimbursed by the ultimate user of the motor vehicle fuel.
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sljbc475
Champion Author Tucson

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Message Posted: Jul 1, 2012 7:26:51 AM

The oil companies continue to get richer no matter what we do.
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bvrbill
Champion Author Eugene

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Message Posted: Jul 1, 2012 6:50:21 AM

Record profits for oil companies.
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Hunter114
Champion Author Chicago

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Message Posted: Jul 1, 2012 5:51:48 AM

Ok.
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A2J
Champion Author Richmond

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Message Posted: Jul 1, 2012 5:39:19 AM

from our pockets for sure
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skippypa
Champion Author Hawaii

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Message Posted: Jul 1, 2012 3:55:36 AM

Ok
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ReddevilNO
Champion Author New Orleans

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Message Posted: Jul 1, 2012 3:38:04 AM

It sure isn't in my pocket, and that's for sure.
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wrunner
Champion Author Virginia

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Message Posted: Jul 1, 2012 3:00:15 AM

Money going is never coming back.

Money is burned like oil is burned - up in smoke.
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angel4me
Champion Author San Jose

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Message Posted: Jul 1, 2012 12:16:55 AM

all of it is still going regardless.......
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flatrock14
Champion Author Michigan

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Message Posted: Jul 1, 2012 12:14:15 AM

interesting theory
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tomok
Champion Author Portland

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Message Posted: Jun 30, 2012 11:57:43 PM

My money is Not in my pocket!
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humblepie
Champion Author Toledo

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Message Posted: Jun 30, 2012 10:58:17 PM

obamanomics is our friend.
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bl626
All-Star Author Toledo

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Message Posted: Jun 30, 2012 10:32:56 PM

money I could be spending somewhere else for sure... less tax he? so CEOs can rack a bit more money? hum...
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KE4YBZ
All-Star Author Knoxville

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Message Posted: Jun 30, 2012 10:23:20 PM

I think, in times of desperately high prices, governments should refrain from collecting gas taxes, in order to keep the economy flowing. -just my opinion...
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Liefhebber
Champion Author Chicago

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Message Posted: Jun 30, 2012 10:19:17 PM

It just shows that politicians have precious little to do with the price of gasoline. People sure like to get steamed up about it, though.
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uglytom
Champion Author Florida

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Message Posted: Jun 30, 2012 10:06:45 PM

Elsewhere.
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cdrrod
Champion Author Wisconsin

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Message Posted: Jun 30, 2012 10:04:39 PM

Not in my pockets, for sure! How about it, speculators?
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cheapchickKY
Champion Author Lexington

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Message Posted: Jun 30, 2012 9:57:20 PM

No surprises.
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davenles
Champion Author Texas

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Message Posted: Jun 30, 2012 9:41:15 PM

Out of my pocket into someone else's.
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danny999
Champion Author Florida

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Message Posted: Jun 30, 2012 9:18:18 PM

Out the tail pipes.
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CivicMA
Champion Author Boston

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Message Posted: Jun 30, 2012 9:17:50 PM

Not a surprise that most of the money goes to the big oil companies.
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menagerie1013
Champion Author San Diego

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Message Posted: Jun 30, 2012 9:17:12 PM

Get rid of the speculators.
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N5EXY
Champion Author Austin

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Message Posted: Jun 30, 2012 9:16:09 PM

Ok, following that line of thinking when the price of oil goes down the price of gas should follow - in a linear proportion. It has not. Why?
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1cheapgasin
Champion Author Indianapolis

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Message Posted: Jun 30, 2012 9:15:30 PM

Whats next- selling us gas metered at 9 tenths of a gallon? Do they really think we are all fools???? The grocery stores have been shorting us on ounces now for 2 years-14 ounces instead of 1 pound- oh no, we don't have any inflation.
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rawdog1313
Champion Author Lexington

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Message Posted: Jun 30, 2012 9:15:11 PM

Regulate Oil Speculation for lower gas prices!
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METEOR49
Champion Author Ontario

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Message Posted: Jun 30, 2012 9:15:06 PM

hard to tell who is the bigger crook , pig oil or the tax man . at least the oil companies have to produce a product, the tax man just collects.
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OWENALOTT
Champion Author Appleton

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Message Posted: Jun 30, 2012 9:14:51 PM

Thanks, now I know.
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silverfoxv65
Champion Author Michigan

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Message Posted: Jun 30, 2012 9:14:38 PM

Its all a bunch of crap anyway!
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ILANGE9
Champion Author Illinois

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Message Posted: Jun 30, 2012 9:14:24 PM

I agree with boatfloyd
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tedjm1
Champion Author New York

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Message Posted: Jun 30, 2012 9:14:21 PM

I find what they say hard to believe.
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Harry813
Champion Author Iowa

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Message Posted: Jun 30, 2012 9:13:08 PM

In one hand, out the other...
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a_lu_vasile
Champion Author Maryland

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Message Posted: Jun 30, 2012 9:13:02 PM

Moving on...
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PrinceLH
Champion Author Ontario

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Message Posted: Jun 30, 2012 9:12:40 PM

Just another lobby group!
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boatfloyd
Champion Author Jacksonville

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Message Posted: Jun 30, 2012 9:12:07 PM

Gas costs allot and everybody makes money.
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TheSicilian
Champion Author Jacksonville

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Message Posted: Jun 30, 2012 9:11:38 PM

interesting
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bpj13
Champion Author North Carolina

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Message Posted: Jun 30, 2012 9:11:37 PM

Ok
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Jun 30, 2012 9:11:32 PM

Interesting...
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MahopacJack
Champion Author New York

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Message Posted: Jun 30, 2012 9:11:03 PM

And the biggest beneficiary is ..... Government! Do we even get a tax break for this? Nope.
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joel27nc
Champion Author Raleigh

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Message Posted: Jun 30, 2012 9:10:42 PM

into greedy pockets
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Beaveronparade
Champion Author Hartford

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Message Posted: Jun 30, 2012 9:10:24 PM

Very informative article. I never knew where the money was actually going.
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Matt G
Champion Author Boston

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Message Posted: Jun 30, 2012 9:09:09 PM

Ok
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jem069
Champion Author Detroit

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Message Posted: Jun 30, 2012 9:07:11 PM

Ok
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n3tbc
Veteran Author Wilmington

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Message Posted: Jun 30, 2012 9:06:25 PM

Ok
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1fulltank
Champion Author Buffalo

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Message Posted: Jun 30, 2012 9:06:21 PM

We all know; out of our possession.
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anascom
Champion Author Hamilton

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Message Posted: Jun 30, 2012 9:06:05 PM

ok, even that's not the whole truth!
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Blue_Cruzer
Champion Author Lexington

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Message Posted: Jun 30, 2012 9:05:49 PM

Interesting.
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