By Tim Mandese, Cowboy State Daily
On Wednesday, April 6, 2022, over the previous 24 hours, Wyoming’s average gasoline price went up 1.5 cents today, with an average of $4.06
The website GasBuddy.com, which tracks national gas prices, reported Wyoming’s average gas price is holding steady, but down only 1 cent per gallon, over a week ago, and is up slightly, by $1.17 per gallon from one year ago.
Wyoming’s average price for gasoline remained below the national average of $4.167 for a gallon of regular.
*The average price per gallon of regular in each Wyoming county:
Albany $3.82; Big Horn $4.06; Campbell $4.06; Carbon $4.06; Converse $3.84; Crook $4.06; Fremont $4.14; Goshen $3.91; Hot Springs $4.10; Johnson $4.01; Laramie $3.97; Lincoln $4.29; Natrona $3.92; Niobrara $4.06; Park $4.09; Platte, $4.06; Sheridan $3.99; Sublette $4.06; Sweetwater $4.17; Teton $4.40; Uinta $4.06; Washakie $4.06; and Weston $4.09.
*The lowest price per gallon, reported in major Wyoming cities:
Basin $4.15; Buffalo $3.95; Casper $3.89; Cheyenne $3.94; Cody $4.10; Douglas $3.78; Evanston $4.25; Gillette $3.99; Jackson $4.37; Kemmerer $4.29; Laramie $3.85; Lusk $3.99; New Castle $3.92; Pinedale $4.14; Rawlins $3.99; Riverton $3.99; Rock Springs $4.09; Sheridan $3.98; Sundance $3.97; Thermopolis $4.07; Wheatland $3.88; Worland $4.08.
Ever wonder when you put that nozzle back in the gas pump, just who is getting the lion’s share of the $60 to $100 you just paid to fill your tank? Who gets the most of a gallon of gas, and who gets the least? Just how much money is there in a gallon of go juice? Let me do my layman’s best to break it down.
From least profit to worst, and sitting on the bottom of the money pile, is the retailer. The average US retailer makes on average, 2 to 4 cents per gallon. Going up the pile, we have federal gas taxes of 18 cents per gallon.
Yes, the federal government makes more per gallon than a person risking their capital in the first place. Next in line are the states. The average state gasoline tax is 22 cents per gallon but here in Wyoming, it’s 24 cents per gallon.
One wrung up from the states, it’s a deadlock between transport and refining. Transporting a gallon of gas eats up 23 to 26 cents per gallon. That’s why it’s more expensive for remote towns in Wyoming to get gas delivered.
Our western counties are among the higher averages, do to the distance required for deliveries. Refineries are next in line, with 24 cents taken from a gallon of gas. At the top of the profit pile are the Oil companies with $2.07 cents per gallon going back to them.
While oil companies might seem to be raking in the most at the pump, consider this. In the 3rd quarter of 2021, the top 40 oil companies combined, profited $16.7 billion dollars. A year earlier, when oil was so cheap that a barrel cost less than zero, they lost approximately $20 billion. A net loss against the 3rd quarter of 2020, of $3.3 billion dollars. It’s much more informative to look at a 5-10 year average rather than peak profits or losses.
Okay, now that we know where the money goes, let’s do some math. With the average gallon of gas costing us $4.04, let’s see where it all settles out.
Taxes, State/Fed $0.42; Transportation $0.26; Refining $0.24; Retailers $0.4; Oil companies $2.07. This all comes to $3.14 of our $4.04 per gallon pump price. All of this is all taken out before the landlord gets his rent, or the credit card companies get their fees, among others taking their share. Those eat up the remaining 99 cents per gallon, by the time you hang up the nozzle.
*Note: Prices in this report are for reference only. They are gathered the evening before posting, and may not reflect prices that have changed since last posted.