February 15, 2013

Where Do Your Gas Dollars Go?

Jen Alic, OilPrice.com


americanprogress.com

Americans pay more for gas than they do for vehicles on average, and the Union of Concerned Scientists has set out to demonstrate exactly where all the money goes.

In a recent study, the UCS claims that “your gas money doesn’t support your local gas station, nor does it benefit you financially, even if you own oil company stock. Most of the money you spend at the pump goes directly to one place: oil companies.”

Read Full Article ››

TAGGED: gas prices

RECOMMENDED ARTICLES

February 14, 2013
Where Your Gas Money Goes
Union of Concerned Scientists
Every year Americans spend hundreds of billions of dollars at the gas pump, but where does that money go? To find the answer, UCS examined how drivers' gas dollars are distributed among all the stakeholders involved in getting... more ››
United States oil consumption in 2012 will be about 4.7 million barrels a day, or 20%, lower than it would have been, if the pre-2005 trend in oil consumption growth of 1.5% per year had continued. This drop in consumption is no... more ››
February 12, 2013
Driving Doldrums: Gas Prices on the Rise - Again
Jen Alic, OilPrice
Here we go again—US gas prices are increasing, with AAA putting the average price at around $3.50+, and drivers wondering if they’ll ever figure out how to predict prices at the pump. They won’t--because even ... more ››
February 11, 2013
Big Oil Banks 66% of Your Fill-Up Cost
Doug Newcomb, Wired Magazine
That new car you just bought? You’ll spend almost as much – if not more – filling it up as you paid at the dealer. And the majority of it will go directly into oil company’s pockets. . . more ››
February 11, 2013
Why Gas Prices are Skyrocketing Again
Myra Saefong, MarketWatch
On Thursday, the average U.S. price for a gallon of regular gasoline stood at $3.555, making it the most expensive average ever for that day and the highest level since Oct. 26 of last year, according to AAA. .  . more ››