Refinery Costs News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The crisis in the middle east, demand from china and india and a demand from recovering world economy these are some the reasons why the price of oil is up and that's why it's down, down in the gulf. >> and the dollars are free falling. >> i understand that. >> and the president, also, listen, we're confusing oil with gasoline, which is what the president is talking about, according to the department of energy, refinery costs are almost 15% up the gallon of gas, up from 5% in november. and we haven't allowed to refinery in this country for two or three decades. >> i'm telling you the administr...

The pump. it's expected if oil prices do go up, one of the factors that you're going to see in the gas price increase will be the price of oil. there are other factors, of course, as well, transportation costs, you know, taxes, and whatnot. refinery costs and, again, refineries are switching over their blends, but also, refineries held back in their supply because of the economy. now that demand increases, with the lower supply rate, you're going to see, you know, economics 101, the price of oil and the price of gas increase. >> that will stay, you think, through the summer? >> yes. i think fo...