Lots of Profit in Gasoline Refining, and Retailing

[ronwagn + 6,290]

Who is making all the profit in the difference between the wholesale gasoline price and the retail price. Some states are getting good prices, others are getting bad prices. It is not the taxes because they haven't changed. Retailers are charging more in many areas. The average price nationwide (in America) is $2.127 https://gasprices.aaa.com/state-gas-price-averages/   Illinois is now at $2.29 in Central Illinois. The wholesale price is $1.272 per Oil Price today. So the nationwide average difference is $2.29 minus $1.272 or $1.018 . That is about $.78 cents higher than the normal gross profit differential of about $60 cents that I normally compute. 

Figures below are old. We saved $.80 with Kroger's discount today, so did well. 

http://www.gaspricewatch.com/web_gas_taxes.php

https://www.eia.gov/tools/faqs/faq.php?id=10&t=10

https://www.eia.gov/tools/faqs/faq.php?id=327&t=10

 Fed.               18.40 

Illinois           62.80 

Macon Co.      7.75

Total tax       88.95 

Gasoline wholesale price 64.4   3/20/20                               

Markup for transport and retail margin 60.0

 

Subtotal    $1.53.35

Transportation plus retail gross profit

50 to 60 cents

So look for a price of 

                   $2.13.35 to $2.23.35 (Usually .99 at the end)

 

Total $2.19 ( Ten cents to fifty cents lower than the current price without discount from Kroger) depending on how much yous spend with them.

 

Kroger is $209.9 today without the discount. 

https://www.autoblog.com/62521-gas-prices/