US drivers subsidize European pump prices -report

Newswire

By Tom Doggett WASHINGTON, Aug 31 (Reuters) - U.S. drivers helped to boost Big Oil's record profits more than their European counterparts, by paying more for gasoline once taxes were taken out at the pump, according to a report released on Thursday. The report from the Foundation for Taxpayer and Consumer Rights also showed that profit margins were much larger for multinational oil companies' refinery operations in the United States than those located in Europe. While gasoline costs ...

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