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This is the same with gasoline prices too. CA gas prices are still well over $3/gallon despite low crude prices.
by jennyyang 6y ago
This is the same with gasoline prices too. CA gas prices are still well over $3/gallon despite low crude prices.
- lotsofpulp 6y agoThat’s just how much refining fuel costs. There is no monopoly of fuel suppliers holding the gas price up, and gas stations make very little money selling gas itself.
- ac29 6y agoRefining isnt actually all that expensive. At least in California, taxes are a higher percentage of total price (18.4c federal + 35c state, per gallon).
- steffan 6y ago50.5 cents of the gas price in California is the state gas tax
- IncRnd 6y agoFor gasoline there are federal, state, and local taxes. Also, each jurisdiction needs gasoline to be made differently than in other areas. Gasoline is a processed product, and it differs from crude.