Gasoline Prices in Today's Market
The price of crude oil is the major factor in determining the price of gasoline at the pump, but there are a number of other factors. While it may not seem so to frustrated Americans struggling to make ends meet, today’s gasoline prices are very much in line with crude prices.
Since 2001, the price consumers pay at the gasoline pump has averaged around 97 cents a gallon higher than the price of crude oil per gallon, and that’s where gasoline prices are these days. Included in the pump price of gasoline are taxes, refining, marketing, transportation and other costs. The national average gasoline tax is 45 cents per gallon.
A number of other factors - such as demand, gasoline inventory and import levels, and the effect of weather, necessary safety-related maintenance and other factors on refinery operations - can play a part in explaining the relationship of gasoline prices to crude oil prices.
Although gasoline demand in the U.S. fell 3.3 percent in 2008, its lowest level in five years, gasoline demand mustered a modest year-on-year increase of 0.8 percent in the first quarter 2009.
Year-to-date through April, U.S. production of gasoline and distillate, including diesel, were at record levels for the period.
The nation’s refineries actually run at a much higher utilization rate than other U.S. manufacturers. For the year 2008, the refining industry averaged 85.5 percent, and 81.7 percent for April 2009. For all manufacturing, 2008’s average was 75.9 percent, and March 2009’s average (the latest data available) was 65.8 percent.
For more information, please see the Primer below:
Size: 2.5 MB | Date: June 26, 2009 | License: Free
Frequently asked questions on fuel efficiency
Consumers can help improve air quality, reduce greenhouse gas emissions and save money at the pump by using gasoline more efficiently. In the Use Energy Wisely section, API offer its recommendations for improving efficiency in the form of answers to frequently asked questions.
API Weekly Gasoline Updates
The national average retail price of all grades of gasoline on Monday, June 29, decreased 0.05 cents to $2.642 per gallon, according to the U.S. Energy Information Administration:
Size: 153 KB | Date: July 1, 2009 | License: Free
Size: 153 KB | Date: June 24, 2009 | License: Free
The national average retail price of regular-grade gasoline on Monday, June 29, decreased 4.9 cents to $2.642 per gallon, according to the U.S. Energy Information Administration (includes a state-by-state summary):
Size: 50 KB | Date: July 1, 2009 | License: Free
Regional Price Chart (bar chart of U.S. regions and selected cities)
Size: 78 KB | Date: June 29, 2009 | License: Free
Gasoline Price Podcast
Jane Van Ryan speaks with John Felmy, chief economist at API, about what’s behind the recent increase in gasoline prices.
Gasoline Price Podcast | |
February 24, 2009 EnergyTomorrow Radio is a podcast series that features energy industry experts speaking on hot button energy issues.
Motor Fuel Taxes
Summary Report – Updated April 2009 to reflect changes since January 2009. Here is a summary report on gasoline and diesel taxes. Find out more about motor fuel taxes here.
U.S. Imports
Do you think most of the oil we use comes from the Middle East? You might be surprised. See the list of countries the U.S. imports product from.
Size: 11 KB | Date: March 2009 (latest figures available) | License: Free
Gasoline: Is It All The Same? What about Octane?
Gasoline is the fuel designed for spark-ignition internal combustion engines. There is a “basic recipe” for gasoline, since it must be used in a variety of vehicles with a broad range of engine types and operating conditions. ASTM International, formerly the American Society for Testing and Materials, has developed these specifications.
Fuel-Saving Tips for Drivers
We count on our cars to get us where we want to go, when we want to go. That sense of freedom is important to us, but we also want to be sure we do our best to conserve natural resources for future generations. See information on Fuel Saving Tips for Drivers to find out what steps you can take to meet these goals.
Related Links
(Energy Information Administration)
(updated monthly)
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