Petrol profit margins
The Minister could not estimate oil companies’ average profit per gallon, but said retailers’ average gross margin was 9.72p, excluding VAT.
asked the Minister for Industry, Commerce and Tourism the average profit in pence on a gallon of petrol.
Comment on this
: It is unclear whether the Deputy is referring to the oil companies' profit margin or the retailers' profit margin on a gallon of petrol. Because of a number of factors, including the different sources of supply, the methods of transportation, the yields from different crude oils, the different products in which the companies trade and the effects of exchange rates on costs, I am not in a position to estimate the average profit to the oil companies on a gallon of petrol. The average retailers' gross profit margin on a gallon of petrol is 9.72p excluding VAT.