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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.
Thirty-one U.S. states now have average gas prices below $3 a gallon. ... OPEC has cut its forecast for 2025 demand growth to 1.54 million barrels per day, from 1.85 million barrels per day in ...
Gasoline averages in the Golden State jumped $0.41 over the past month to $4.85 per gallon, about $0.20 higher than a year ago. Washington state also saw prices at the pump jump roughly $0.22 over ...
Prices rose back to $90/barrel in December 2010. [50] The US average for a gallon of 87 octane regular unleaded averaged $3.00/gallon on December 23, sparking fear of a second recession if prices reached $100/barrel and $4.00/gallon gasoline, as forecasted for spring 2011.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
According to the Department of Energy, the barrels of gasoline were sold to five oil companies at an average price of $2.34 per gallon, and their sale is expected to particularly benefit consumers ...
The energy content of ethanol is 76,100 BTU/US gal (5.89 kilowatt-hours per litre), compared to 114,100 BTU/US gal (8.83 kWh/L) for gasoline. (see chart above) A flex-fuel vehicle will experience about 76% of the fuel mileage MPG when using E85 (85% ethanol) products as compared to 100% gasoline. Simple calculations of the BTU values of the ...
However, amid increasing prices — currently hovering at around $85 per barrel — the DOE has decided to pull back on further purchases until market conditions improve.
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