Refining Cost News Today

So, let us know how you did at home. so when we talk about the gas prices, well, you always hear about crude oil prices, but how exactly do crude oil prices affect the price that you pay at the pump? let me break this down for you as well. these figures are all from the energy administration. and lets look at last years average, 68% of the cost of a gallon of gas went to purchase crude oil. okay. 15% to taxes. 10% to marketing and distribution. and 7% to refining the crude oil into gasoline, so ...

Marketing. 7% went to refining crude oil into gasoline. that was 2010. now, look at the average for 2000 to 2009. big difference. look how much less we were paying for crude oil. also check out you the refining cost. yeah. there it is. it was more than double what we pay for refining gas now, and look at the taxes. percentage wise we were actually taxed less today on each gallon of gas than in the last decade. and just to give you an idea of how much weve paid for gasoline in the past -- the nat...

Year. when the price was around $2.75 a gallon. they keep going higher. whats driving the increase and where is all that money going? well, most of it, 67%, goes directly to the crude oil suppliers. this amount is determined largely by the organization of petroleum exporting countries or opec. the amount of crude oil produced by opec decides the price of a barrel of oil. then the refining cost, about 11% of the cost of a gallon of gas. crude oil goes through the refining process in order to beco...