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<blockquote data-quote="Toby" data-source="post: 217511" data-attributes="member: 1509"><p>You know what pisses me off about gas prices is that currently Crude is selling on Nasdaq for $71 and some change and gas price averages are right around $2.80 per gallon.&nbsp; Let's think about this for a second.&nbsp; The summer between '08 and '09 Crude was $140 a barrel and gas prices averaged $4 a gallon.&nbsp; Let's do just some simple math and double the price of $71 currently and gas prices should be $5.60 per gallon at the rate it was back in '08 and '09 according to the current price of crude and current price of gas right now.&nbsp; How in the hell does this work, nobody really knows.&nbsp; I have a gas receipt from this past September when Crude was selling on Nasdaq for $50 per barrel and gas prices were $2.19 per gallon...that would have been $0.044 on $1 a barrel.&nbsp; Now it is currently $20 per barrel more and costs 60 cents a gallon for gas more.&nbsp; Now, if I do the math correctly for every $1 increase the price of gas should increase by $0.03 per gallon.&nbsp; That means when Crude was at $140 per barrel the price should have been $4.20 per gallon, pretty close.&nbsp; Let's do the same regarding $71 per barrel currently...$71 X $0.03 is $2.13.&nbsp; Now, is the other $0.60 per gallon all taxes?&nbsp; If so, then back in '08 '09 prices should have been closer to $4.80 to $5.00 per gallon.&nbsp; Also, if this is the case then $0.60 cents of taxes on $2.13 is 28.1% tax.&nbsp; <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite5" alt=":confused:" title="Confused&nbsp; &nbsp; :confused:" loading="lazy" data-shortname=":confused:" />&nbsp; 28% taxes?&nbsp; Think about your payroll taxes from your job, do you pay 28%?&nbsp; No, but you pay the Federal Govt around 12-13% and the State another 2-3%.&nbsp; Then you pay sales tax on everything you buy at around 7.5% for both city and State.&nbsp; Then if you own a home then you pay how much more in taxes?&nbsp; Just thinking out loud on this one!&nbsp; ;:;banghead How are gas prices really set is what I am getting at.&nbsp; Taxes taxes taxes?</p></blockquote><p></p>

[QUOTE="Toby, post: 217511, member: 1509"] You know what pisses me off about gas prices is that currently Crude is selling on Nasdaq for $71 and some change and gas price averages are right around $2.80 per gallon. Let's think about this for a second. The summer between '08 and '09 Crude was $140 a barrel and gas prices averaged $4 a gallon. Let's do just some simple math and double the price of $71 currently and gas prices should be $5.60 per gallon at the rate it was back in '08 and '09 according to the current price of crude and current price of gas right now. How in the hell does this work, nobody really knows. I have a gas receipt from this past September when Crude was selling on Nasdaq for $50 per barrel and gas prices were $2.19 per gallon...that would have been $0.044 on $1 a barrel. Now it is currently $20 per barrel more and costs 60 cents a gallon for gas more. Now, if I do the math correctly for every $1 increase the price of gas should increase by $0.03 per gallon. That means when Crude was at $140 per barrel the price should have been $4.20 per gallon, pretty close. Let's do the same regarding $71 per barrel currently...$71 X $0.03 is $2.13. Now, is the other $0.60 per gallon all taxes? If so, then back in '08 '09 prices should have been closer to $4.80 to $5.00 per gallon. Also, if this is the case then $0.60 cents of taxes on $2.13 is 28.1% tax. :confused: 28% taxes? Think about your payroll taxes from your job, do you pay 28%? No, but you pay the Federal Govt around 12-13% and the State another 2-3%. Then you pay sales tax on everything you buy at around 7.5% for both city and State. Then if you own a home then you pay how much more in taxes? Just thinking out loud on this one! ;:;banghead How are gas prices really set is what I am getting at. Taxes taxes taxes? [/QUOTE]

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