Posts by Day: Sunday, June 22, 2008

 USA is the biggest consumer of gasoline in the world, however depends on foreign oil supplies. Americans drive about 3 trillion miles per year.That's more than 800 trips from the sun to the farthest planet in our solar system and back. Well, this year we'll do may be one trip less because, you know... We're paying more and more for gas and for groceries every day, however, with our salaries remaining unchanged. There are lots of comments about raising cost of gas and how it affects on our every day’s life. Do we really  know how the  gas price is formed?

There are a number of components that determine what you pay at the gas pump. Usually the price of crude oil has the biggest effect on gas price. From your every dollar spent on gas, 73 cent goes on crude oil, 10cents refining, 6cents  distribution and marketing and 11 cents goes for taxes. From these only taxes are more or less stable; the other components may undergo dramatic changes. Today’s  raising factor  is not the crude oil price only, they say, but refineries price.  Read more here  and you'll be shocked.