Taxes typically account for between 12 and 18% of the price (much higher in places like California).

This, according to the US Energy Information Administration.

If you are paying $5.00 per gallon, oil industry profits are about 25 cents per gallon. Taxes account for about 75 cents per gallon, or three times industry profits.

Much of those industry profits provide revenue for people who are on a fixed income and need funds for retirement.