… don’t belong to Exxon. When the oil companies take in money from the sale of gasoline, they only get to count the money they make after expenses. Exxon made 40.6 billion dollars last year, but that is less than a 10% profit margin (7.6% actually), which is far less than your local bank.
The government on the other hand makes 100% profit on all that they take into their coffers: The federal gas tax is currently 18.4 cents a gallon and each state and local government tacks on an additional levy. Don’t know what your state and local government gets outta ya? NOW YOU DO – If you live in Florida! Sorry for the rest of you who don’t live in Paradise.
(For Santa Rosa County, FL we are looking at 54 cents a gallon)