Respuesta :
The average cost of gas in the US is $3.716
How is the price of gas determined?
- The price of gasoline is made up of four factors: taxes, distribution and marketing, the cost of refining, and crude oil prices.
- Of these four factors, the price of crude oil accounts for nearly 70% of the price you pay at the pump, so when they fluctuate (as they often do), we see the effects.
- The costs associated with refining crude into gasoline and other fuels, delivering it to stations by pipeline and truck, and marketing it makes up the remaining factors that affect gas prices.
- The profits that refiners make when converting barrels of oil into barrels of gasoline are included in this category of expenses, and these profits are currently skyrocketing.
- Due to the pandemic's drop in fuel demand, some refineries had to close; however, now that demand is high, those that did remain will enjoy higher profit margins.
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