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The United States was for decades, through 2008, the world's largest net importer of refined petroleum products. But the situation quickly changed in 2008 as American refineries became much more cost-competitive due to large increases in US production of oil, natural gas, and natural gas liquids. The US became a net exporter of refined ...
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 ...
In September 2021, gas prices in Europe reached all-time highs, following a collapse of wind-based power generation on account of low winds. [31] [32] In December 2021, they reached $2000 for 1000 m3 for the first time, corresponding to €172.52/MWh (€50.56/MMBtu) on the TTF hub in the Netherlands according to the London ICE. [33] [34]
In North America the fuel is known as "gasoline" or "gas" for short, and the terms "gas station" and "service station" are used in the United States, Canada, and the Caribbean. In some regions of Canada, the term "gas bar" (or "gasbar") is used. In the rest of the English-speaking world the fuel is known as "petrol".
Nevertheless, in 2008, the on-road vehicle fleets in the United States and Canada had the lowest overall average fuel economy among first world nations: 25 miles per US gallon (9.4 L/100 km) in North America, versus 45 miles per US gallon (5.2 L/100 km) in the European Union and was even higher in Japan, according to data as of 2008.
Gas ceased to be manufactured in North America by 1966 (with the exception of Indianapolis and Honolulu), while it continued in Europe until the 1980s. "Manufactured gas" is again being evaluated as a fuel source, as energy utilities look towards coal gasification once again as a potentially cleaner way of generating power from coal, although ...
In effect, the U.S. military was the only market for 100-octane aviation gasoline and as war broke out in Europe this created a supply problem that persisted throughout the duration. [54] [55] With the war in Europe a reality in 1939, all predictions of 100-octane consumption were outrunning all possible production.
In 2010, the cost of fuel in the US averaged US$3.42, while the cost for E85 averaged US$3.09, or 90% of the cost of gasoline. [ 21 ] [ 22 ] In another test, however, a fleet of Ford Tauruses averaged only about 6% fewer miles per gallon in ethanol-based vehicles when compared to traditional, gas-powered Tauruses.