Gas prices are once again on the rise after weeks of steady declines, but a new analysis of where our money goes once we pump it into gas stations shows that station owners don’t really see their profits rise with the prices. For every $50 fuel purchase—regardless of the price per gallon—gas station owners take home a measly $1, or a little more than 2%, according to calculations by financial analysis company Sageworks. Visa or MasterCard make even more, Sageworks says: about $1.25—or 2.5%—off every $50 gas purchase. According to the research, the price of crude oil accounts for 61.5% of the cost of gasoline at the pump, or about $30.75 of that $50 purchase. Refining crude oil into gasoline accounts for about 14% of the purchase price, while delivery costs add up to about 8% and taxes 12%. The U.S. Energy Information Administration also puts out its own breakdown of gas prices, and theirs isn’t too far off Sageworks’ analysis. According to the administration, the constituent costs of a gallon of gas (at $3.42 per gallon) are: taxes, 38 cents (11%); distribution and marketing, 34 cents (10%); refining, 44 cents (13%) and crude oil $2.26 (66%).
Today’s poll question: At what price point for a gallon of gas would you consciously begin reducing the amount you drive to save money?
