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Author Topic: How CT gasoline pricing works Back to Topics
xgojim
Champion Author
Michigan

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Message Posted: Aug 19, 2013 2:54:06 PM

Of all the money you pay when you fill up your car with gasoline, the smallest portion of it goes to the business selling it to you. “There is very little left over,” said Doug Hendel, president of Hendel's Inc. in Waterford, which owns 35 Connecticut gasoline stations. “We are a volume business. That keeps prices down because we have to sell a lot of gas.” Of the money paid at the pump, 66 percent goes to cover the cost of crude oil, which is extracted from fields around the world, according to the U.S. Energy Information Administration. Another 11 percent goes toward refineries and their profits. The national average for taxes is 12 percent of the retail price, but Connecticut has the third highest state gasoline taxes in the nation, so Connecticut motorists are sending a greater percent
Visit HartfordBusiness.com for full article
REPLIES (newest first) Post a Reply
BBopp
Champion Author Dayton

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Message Posted: Aug 20, 2013 7:49:21 PM

Very interesting. I could not afford to live in CT.
dandvicb
Champion Author Bridgeport

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Message Posted: Aug 20, 2013 6:31:09 AM

GREED!!!
listerone
Champion Author Boston

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Message Posted: Aug 19, 2013 11:30:17 PM

CT is a Peoples' Republic in which 75% of the population live off the other 25%
Discovery02
Champion Author Colorado Springs

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Message Posted: Aug 19, 2013 10:21:01 PM

Interesting article and I'll bet the principles are the same even outside of Connecticut.
Hemond
Champion Author Providence

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Message Posted: Aug 19, 2013 9:31:14 PM

:::::Only 66% of the cost of gas at the pump is for the product. The rest go to taxes and profits! Wow, wish I made a 34% profit!:::


Unable to read English it seems. The author most definitely did not say there was a 34% profit.

Looks like there is a gross profit before expenses of 4%.
ObieDog
Champion Author Maryland

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Message Posted: Aug 19, 2013 9:05:58 PM

Sad but true.
ddor
Champion Author Michigan

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Message Posted: Aug 19, 2013 8:53:36 PM

K
Rayfuel
All-Star Author Houston

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Message Posted: Aug 19, 2013 8:48:39 PM

Good information!
velichita
Champion Author New Jersey

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Message Posted: Aug 19, 2013 8:40:53 PM

Really??
Snowball2013
Champion Author Yakima

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Message Posted: Aug 19, 2013 7:47:35 PM

Good info thanks
Cashless
Champion Author Akron

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Message Posted: Aug 19, 2013 7:36:36 PM

Good to know.
MrLefty0706
Champion Author Chicago

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Message Posted: Aug 19, 2013 6:26:35 PM

Hard to believe 66% is for the crude oil.
Tacodan
Champion Author Cincinnati

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Message Posted: Aug 19, 2013 6:07:40 PM

ConnecticutGasPrices.com
APlus
Champion Author San Antonio

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Message Posted: Aug 19, 2013 4:45:26 PM

Only 66% of the cost of gas at the pump is for the product. The rest go to taxes and profits! Wow, wish I made a 34% profit!
kag2010
Champion Author Winnipeg

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Message Posted: Aug 19, 2013 4:43:19 PM

Interesting.
comprof
Champion Author Houston

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Message Posted: Aug 19, 2013 4:35:31 PM

Interesting. Taxes get more tan the oil companies. And they do nothing constructive.
charg3rguy1991
Champion Author Greensboro

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Message Posted: Aug 19, 2013 4:30:11 PM

I've always heard they only get pennies, most of the profit comes from inside the store
Ply440GTX
Champion Author Kansas

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Message Posted: Aug 19, 2013 4:13:43 PM

CT and the rest of the world...
humblepie
Champion Author Toledo

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Message Posted: Aug 19, 2013 3:15:29 PM

the boy owns 35 stations and he's complaining ?
Clayton2000
Champion Author South Carolina

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Message Posted: Aug 19, 2013 3:14:49 PM

Ok
xgojim
Champion Author Michigan

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Message Posted: Aug 19, 2013 2:54:45 PM

I don't live in CT but am certain the same principles apply everywhere.
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