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From 2005 to 2007 a number of types of vegetable oil have doubled in price. The rise in vegetable oil prices is largely attributed to biofuel demand. [19] Much of the fuel price at the pump is due to fuel tax. If you buy vegetable oil at the grocery store it does not have such high taxes.
Farmers can switch to growing vegetable oil crops if those are more profitable than food crops. So all food prices are linked to vegetable oil prices and, in turn, to crude oil prices. A World Bank study concluded that oil prices and a weak dollar explain 25–30% of the total price rise between January 2002 until June 2008. [21]
where: C (algal oil) is the price of microalgal oil in dollars per gallon and C (petroleum) is the price of crude oil in dollars per barrel. This equation assumes that algal oil has roughly 80% of the caloric energy value of crude petroleum. [135]
The current national gas price average is $3.62 per gallon. The average cost of gas has decreased 15% in the last two years, from when it was $4.27 per gallon .
Higher oil prices are driving up prices at the pump. ... The national gas average on Friday sat at $3.53 per gallon, nearly $0.10 higher than a year ago, according to AAA data.
A number of oils are used for biofuel (biodiesel and Straight Vegetable Oil) in addition to having other uses. Other oils are used only as biofuel. [note 4] [147] Although diesel engines were invented, in part, with vegetable oil in mind, [148] diesel fuel is almost exclusively petroleum-based. Vegetable oils are evaluated for use as a biofuel ...
Similarly, another Costco shopper based in Canada has been tracking the grocer's olive oil prices and recently posted a photo collage showing that prices for two-liter bottles of Kirkland ...
The following table shows the vegetable oil yields of common energy crops associated with biodiesel production. Included is growing zone data, relevant to farmers and agricultural scientists. This is unrelated to ethanol production, which relies on starch, sugar and cellulose content instead of oil yields.