How much do oil companies make on each gallon of gas?

Help me settle a discussion. I say that the oil companies (Exxon/Mobil/Texaco/Etc) make about 30 % profit on each gallon, after taxes and the stations profit.How much do oil companies make on each gallon of gas?
If you do some research, you will see, for instance, that Exxon makes 7 to 8 cents profit per gallon of gas sold.





In contrast, the Federal Government tax on a gallon of gas is 18.4 cents, and then you add the state tax of anywhere from 15 to 30 cents per gallon...well, you get my point. The oil companies are NOT making a killing on gas prices like the media would lead you to believe, but the government is!How much do oil companies make on each gallon of gas?
Well, the companies you've named probably do make a considerable profit on each gallon (though maybe not 30%). XOM,Chevron, Shell, BP, etc. all produce both crude oil and gasoline. If you are pulling the oil out of the ground for $5-8/bbl and turning it into gasoline for $8-12/bbl then you're making some serious dinero.





True refinery players like Valero, Tesoro, Sunoco, etc. only refine and do not produce crude. Therefore they are only making money on the differential between oil and gasoline, which varies by region but is generally in the $8-12/bbl range on the gulf coast. Break that down per gallon and it's 20-30 pennies.