An article in the May 22nd issue of AutoWeek, page 8, gives the following
data:
A 42 gallon barrel of crude oil yields 44.77 gallons of refined oil (volume
changes). Of this, 43.9% or 19.65 gallons is gasoline and 22.4% or 10.03
gallons is diesel/fuel oil.
At $75 per barrel of crude oil,unrefined gasoline costs $1.68/gal and diesel
is $1.67/gal. Adding the Federal tax (18.4 cents per gallon for gasoline, 24
cents for diesel) we get:
costs = $1.864/gallon of gas, $1.91/ gallon of diesel
Now add state and local taxes, refining costs, additive costs, transportation
& storage costs, and profit to get the PRICE we pay at the pump.
Lance
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