So banks are running an 18% profit margin (is that gross or net?)? And the government needs to give them money? :D

$1.61 at a discount station, $1.74 at the national stations. This is for Socal.

I'll be the first to admit I'm wrong.
 

Well just when the world was poised on it's haunches to see oil spring back up, Bloomberg today said they expect gas for under a dollar soon since China raised its fuel tax, lowering demand. I didn't see that one coming.

Well, that's a nice suprise. I haven't seen gas under $1 for about 10 years (With the exception of one station that programmed their pumps wrong last year. I filled up my tank for $0.289/gal)

-Jay

wow. Hey, finally an oil fight the US isn't involved in. China vs. OPEC.

i'm definately with ya on that! i would assume that's net because i couldn't imagine anyone on the list making single digits gross.

now, in regard to POSSIBLE sub dollar gas...

i wouldn't have an issue with an increase in the gas tax given that scenario. taxes WILL be raised somewhere else if not.

"taxes WILL be raised somewhere else if not."

I dunno, it seems to me the days of a 'tax and spend' governement policy are long gone, in favor of a 'spend and spend... and spend and spend and spend' policy.

=\

Dalez0r,

if you've read my posts you'll know that i'm anti-big govt and anti-tax increases. i was simply stating that WHEN taxes are increased(we all know they will be), i wouldn't mind it being on gas rather than say property or income tax.

bowtieguy,

I think we're singing in the same choir here. Screw big government, the purpose of the government is to build roads and keep us from killing each other, not regulate every aspect of our lives.

The one thing you're forgetting, is that when the price falls, consumption (and the amount collected in fuel taxes) goes up. If you raise taxes, consumption goes down, and you don't get the anticipated revenues.

-Jay