Blog Post from American Petroleum Institute
Did You Know...
May 29, 2009
Written by: Jane VanRyan
...gasoline prices historically have tracked crude oil prices? It's true. And today's gasoline prices are no exception. Since April 20, crude oil prices have climbed 46 cents a gallon and gasoline prices have risen 41 cents.
The price of crude oil is the major factor in determining the price of gasoline, but taxes also have an impact. On average in the United States, 45.6 cents of the price per gallon is tax.
For more information on the factors that determine the price of gasoline, read this.
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