Steamed up my afternoon

[shilala]

Originally Posted by BC-Axeman

In Calif.: Profit < $.02 per gal, taxes > $.66 per gal.
Profit margin of Exxon as percent: 7.5%
A 7.5% margin is not all that great in any business.

I'm not all that good at math, but I can't see how 2 cents profit on a $4.00 gallon of gas equals a 7.5% margin of profit?
Can someone figure me out on this one, please?

Originally Posted by shilala

I'm not all that good at math, but I can't see how 2 cents profit on a $4.00 gallon of gas equals a 7.5% margin of profit?
Can someone figure me out on this one, please?

147B in income, 10.7B in profit for Exxon.
$.02 profit at the pump, $.66.5 tax at the pump.
Two different things.