Here’ a cool graphic from the EIA on what drives the price of a gallon of gasoline in January 2012. We paid $4.20 last night in California!
Note 76 percent of the price for a gallon of gas is driven by crude oil. Only 6 percent by refining and 6% distribution and marketing. Though these components do vary over time, but not by much.
So when you start to crack at paying $100 to fill your tank, remember it’s really not the crack spread. Blame the crude or Brent!
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