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To: ROCKLOBSTER
The price of crude is supposed to be about 80% of the price of a gasoline.

When has it ever been at 80%?

GASOLINE PUMP COMPONENTS HISTORY
http://www.eia.gov/petroleum/gasdiesel/gaspump_hist.cfm

39 posted on 11/30/2014 6:58:27 PM PST by thackney (life is fragile, handle with prayer.)
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To: thackney

Presumably when crude oil goes down the corresponding taxes go down by a similar amount. 63%+13%=76%.


44 posted on 11/30/2014 7:03:45 PM PST by Chad_the_Impaler
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To: thackney

OK, let me rephrase that. First, it should have been .75.

In order to get a quicky price guesstimate, you divide the price per barrel by 42(gallons)

$65/42 = $1.55 (per gallon of crude)

Then you divide the price per gallon by the factor .75

1.55 /.75 = 2.07

Then you add the tax (.45)

$2.07 + .45 = $2.52


77 posted on 11/30/2014 8:15:59 PM PST by ROCKLOBSTER (Celebrate "Republicans Freed the Slaves Month")
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