I thought it had something to do with the way the government adds their tax
to the total - it always calculates as $ .009 cents (plus a lot of over
change).
Let's see what Wiki has to say!
73% - Crude oil
11% - Federal and state taxes
10% - Refining costs and profits
6% - Distribution and marketing
Hmmm nothing there so far - found it - you are 100% correct. here's some
details -
**************************************************************************
What is 9/10 of a cent worth?
So the gas companies take an extra 9/10 of a cent for every gallon of gas we
buy--what is that actually worth?
According to the U.S. Energy Information Administration (EIA), "prime
suppliers" of "motor gasoline" reported sales of 372,833.5 thousand barrels
sold in February 2007. Each barrel represents 42 gallons, and to determine
the value of 9/10 of a cent for each gallon, we did the following
calculation:
372,834 x 1000 x 42 x .009 = $140,931,063
That means that in February 2007, gas companies collected an extra $141
million USD because of their unique pricing practices. Assuming February is
a rough average for the year, that's $1.7 billion USD in additional revenue!
Have a nice weekend -
LarryT
91 300D
OilAnalysis Time?
Looking for Weber Parts or Porsche Posters?
www.youroil.net
--------------------------------------------------
From: "John Reames" <jwrea...@comcast.net>
Sent: Friday, June 04, 2010 9:32 PM
To: "Mercedes Discussion List" <mercedes@okiebenz.com>
Subject: Re: [MBZ] OT Beer for henifay
It means that the gas companies get free money each time someone does not
land on a whole cent.
If you buy 1 gallon, it is $2.909, but we don't track tenths of cents,
so you pay $2.91... Three gallons are $8.787, so that becomes $8.79,
etc...
I do not believe that they ever round down, so if you have even a tenth
of a cent over, you pay the full cent.
--
John W Reames
jwrea...@comcast.net
Home: +14106646986
Mobile: +14437915905
On Jun 4, 2010, at 19:38, Hendrik and Fay <heni...@ozemail.com.au> wrote:
Yeah I know I'm dumb but what is the go with the wat fuel prices are
displated,
it's 290 9/10 , what does the 9/10 on the end mean?
Hendrik
who is having a blonde moment perhaps
On Thu Jun 3 8:22 , John Reames <jwrea...@comcast.net> sent:
Hmph. We need a tenth-cent piece (have you seen gas prices? 3 places
to the right of the decimal point...)
--
John W Reames
jwrea...@comcast.net
Home: +14106646986
Mobile: +14437915905
On Jun 3, 2010, at 9:32, Mitch Haley m...@voyager.net> wrote:
Hendrik and Fay wrote:
Plus we have done away with 1 and 2 cent pieces, spose all those
cents i am
collecting here go into charity collection tins?
Most shopkeepers have a 'penny dish' on the counter by the cash
register.
You throw your pennies in there, and when the next guy's purchase is
10.03, he gives them a tenner and they take three pennies out of the
dish to balance it.
If the half cent was declared useless in 1857, then the cent,
nickel, and dime should be as useless now as the half cent was 150
years ago.
Mitch.
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)
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