obviously the more per barrel the more per gallon of gas but just how does it equate to actual dollars. Does each $25 per barrel equal $1 of gasoline?How does the price of oil per barrel relate to the price of gasoline?
It varies, but the price of crude oil makes up about 55% of the cost of gas. But crude oil makes other things besides gasoline, so it's not exactly one-to-one. Your 25 per 1 isn't exactly right. When oil was at 10ish a few years ago, gas was still higher than 40 cents because there are other costs associated with gasoline.How does the price of oil per barrel relate to the price of gasoline?
no
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