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Fuel Fact of the Week

Fact #1073:Crude Oil Cost Accounted for 50% of Gasoline Price in 2017



The price of a gallon of gasoline changes depending on different price components, including crude oil, taxes, distribution and marketing, and refining. Historically, the largest component of gasoline price has been crude oil, which accounted for 50% of the average gasoline price for 2017. The cost of refining and the cost of crude oil are the most variable over time.

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Past Fuel Facts of the Week.

Question of the Month

How is fuel economy determined and reported for alternative fuel vehicles?

Last month we learned about how the U.S. Environmental Protection Agency (EPA) determines and reports conventional light-duty vehicle fuel economy ratings. While alternative fuel vehicle (AFV) fuel economy testing is largely similar to that of conventional fuels, the EPA makes some adjustments to account for different vehicle technology and fuel energy content. By tailoring AFV fuel economy testing and reporting, the EPA is able to provide apples-to-apples comparisons and allow consumers to make informed decisions.

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