What is the real variable(s) that determine the price at the pump?What determines the price of gasoline? Is it the price of crude oil, or is it the cunning of crude men?
About 70% is crude oil, 17% taxes, 6% refining, the other 7% is distribution, marketing and profit.What determines the price of gasoline? Is it the price of crude oil, or is it the cunning of crude men?
price of the oil itself, getting it out of the ground, refining it, shipping... OPEC regulates all that. they decide on a price per barrel and they sell it. shipping costs are what raise the prices, i think. so as the price per barrel goes up, it costs more to ship it, so that's why the price is what it is.
:3
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