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Tight refining supply has kept the gap wide between wholesale gasoline futures and retail prices, currently at about $1.25 a gallon, far exceeding the average of 88 cents over the past five years.
According to the Energy Information Administration (EIA), as of March 2022, factors that affect the price of gasoline in the United States include the price of crude oil per barrel, costs and profits related to refining, distribution, and marketing, and taxes, along with the charge set by refiners for gasoline based on based on octane levels, with higher octane levels—premium grade cost ...
The average price in California, where prices are most expensive compared to the rest of the country, registered at $4.68 per gallon on Wednesday, down from $5.07 one month ago.
Gasoline prices are rising across the country in the middle of peak summer driving season. Skip to main content. Subscriptions; Animals. Business. Entertainment. Fitness. Food. Games. Health ...
The crack spread contract helps refiners to lock-in a crude oil price and heating oil and unleaded gasoline prices simultaneously in order to establish a fixed refining margin. One type of crack spread contract bundles the purchase of three crude oil futures (30,000 barrels) with the sale a month later of two unleaded gasoline futures (20,000 ...
Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 per gallon.
The biggest October price spike since 2000 came in 2004, when the average price jumped from $2.20 in California at the start of the month to $2.39 by the end. That year, President George W. Bush ...
The average price for a gallon of regular gas is about $3.00, according to AAA, much lower than the spike to $5 per gallon earlier in President Joe Biden’s term. AAA reported last week taht gas ...