Gasoline Taxes Vs. Exxon Profit, Per Gallon

Mark Perry
updated | Author's Website

The map above from API shows gasoline taxes by state (combined local, state and federal), which range from a low of 26.4 cents per gallon in Alaska to a high of of 66.1 cents per gallon in California, averaging 48.1 cents per gallon across all states.  How does that compare to oil company industry profits per gallon?
According to this post on Exxon Mobil’s Perspective Blog , “For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents.”  
The chart below shows the difference graphically:


Exxon also reports that in 2010 it “made less than 8 cents for every dollar of revenue from all of our businesses around the world.”

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