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Posted by Sherman in Idaho [72.47.153.24] on Tuesday, June 12, 2012 at 16:42:16 :
In Reply to: OT Gas and Diesel prices finally dropping posted by Keith in Washington [131.107.0.85] on Tuesday, June 12, 2012 at 16:11:26 :
Add 50 cents state and local tax, and you've still got $2/gal in the Seattle area for transportation, refining, and profit. During the last big run-up in gas prices a few years ago, the difference between crude oil and retail gasoline was only about 50 cents/gal. The recent high prices look like pure profit-taking to me.