At todays price for a barrel of crude, if you divide the number of gallons you get out of a barrel it equals out to $2.65 per gallon. The rest of the cost is refining, transporting, storage, and retailing.
Exxon Mobil made less than TWO CENTS per GALLON of gasoline SOLD and just under EIGHT CENTS net on each DOLLAR of revenue EARNED.
QUOTE]
So, the people making all the money are the people selling the crude????
How much was a 55-gallon drum of crude oil in 1956?
$24.43 (adjusted for inflation; $2.94, nominal)
From: http://inflationdata.com/inflation/inflation_rate/historical_oil_prices_table.asp
I think therin lies the answer to my question.
But, US demand was porojected at 9.12 MILLION BARRELS per day in 2011. That's $1.10 a barrel profit (55 X .02) or ... my calculator won't go that high; you do the math... to get the annual profit from 2-cents a gallon @ 912 million barrels (55-gallon drums) a day...
Sure sounds like a lot of money to me... and that's not counting exported fuel, which is significant, nowadays.
Why do I have trouble feeling sorry for these guys???:shock:
