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DOE: crude oil cost accounted for 50% of gasoline price in 2017

The price of a gallon of gasoline changes depending on different price components, including crude oil, taxes, distribution and marketing, and refining. Historically, the largest component of gasoline price has been crude oil, which accounted for 50% of the average gasoline price for 2017, according to the US Department of Energy (DOE).

The cost of refining and the cost of crude oil are the most variable over time.

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Comments

HarveyD

Surprising to note that taxes have been reduced below 50 cents/gal while other cost have varied much more.

A progressive rise in taxes from an average of 50 cents/gal to $1/gal or $2/gal could convince more users to purchase more (HEVs/PHEVs/BEVs/FCEVs)?

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