re: $3.539 @ Loves exit 100 on 20/59

quote:

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Those high gas prices are going straight to their CEO's pockets but no one wants to call them out lmao.

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While it is evident you do not understand basic economics or the oil industry in general, I will attempt to help you.

The cost to purchase oil went up. US policy removed access to drilling rights / contracts within the US. US policy removed access to funding sources for drilling /production / processing within the US. The price for fuel at the pump went up based on the cost to get it to the pump.

The prophet margin per dollar spent at the pump remained the same. But the amount that could be purchased for that same dollar was now lower. The price per gallon (based on my personal experience and records), has gone from $1.79 / gallon the day before Biden became President to $3.84 / gallon yesterday (at the same gas station. The price went up by a factor of 2.15 The amount of prophet for the oil company went up by 2.15 (because the same margin has not changed).

Yes the oil company made 2.15 times as much money as they did 15 months ago. Their costs also increased by a factor of 2.15. But the prophet margin has not changed...they still make roughly 10% on the purchase price. Some people refer to that as inflation.

Just for fun, look at the cost of steel over that same period of time. My cost per pound of steel has gone from $0.35 / pound to $0.96 / pound. That is a factor of 2.74. If you were paying attention, the cost of steel has increased even more than the cost of fuel by a factor of 1.27.

The cost of lumber - same thing has happened. The cost of homes, they have increased but the rate of increase is lagging the market for the materials required to build them. The cost of food is also increasing but it is also lagging the cost of materials and shipping required to grow/raise it and get it to the store. The cost of fertilizer - yep same issues as seen with other products.

If something does not change very soon, simple inflation will soon hit you in the face as "hyper" inflation.

One other fun little tidbit on the fuel you purchase at the pump. The federal, state, and local taxes make a much much larger percentage of money off of the sale than the oil company does.