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Gas prices change based on the cost of crude oil, refining, distribution and marketing, and federal, state and local taxes. Four key factors affect the price of gas. Here's how, and why gas prices ...
The price of crude oil is responsible for about half the cost of gasoline at the pump, and that makes sense because you really can't have gas without it. So as crude oil prices soar, so do ...
Falling leaves typically coincide with falling gas prices as the summer driving season comes to a close and demand at the pump wanes. Instead, gasoline prices are getting more expensive and are ...
Thus, the best tip to determine which way gas prices are trending is to watch the market price of crude oil. Just understand that there’s not a one-to-one correlation between the two, and gas ...
Drivers are in for another headache at the pump as U.S. gas prices continue to rise. The national average for gas prices stood at about $3.78 a gallon on Tuesday — about 25 cents higher than ...
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
Gas prices are again on the rise, and the extreme heat being felt in the Northern Hemisphere is partly to blame. Nationally, the price of a gallon of gasoline rose by 4 cents on Tuesday, the ...
From 1998 to 2004, the price of gasoline fluctuated between $0.26 and $0.53 per liter ($1 and $2/U.S. gal). [93] After 2004, the price increased until the average gasoline price reached a high of $1.09 per liter ($4.11/U.S. gal) in mid-2008 but receded to approximately $0.69 per liter ($2.60/U.S. gal) by September 2009. [93]