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Week 2 What Explains The Price Of Gasoline

264 Words2 Pages

The Article I picked was from Week 2 titled ‘What explains the price of gasoline?”. In this article, it gives readers a breakdown on the factors that’s affecting gasoline prices at this time. It gives us a general idea as consumers on how our gas prices are basically being priced. It tells us the four main components which are crude oil, refining cost and profits, distribution and marketing cost and profit and also taxes. All of these are the major components that makes up our high and low gas prices.
The cost of crude oil is the largest factor in the retail price for gasoline. Crude oil prices are measured based off of both demand and supply. Next is the taxes added on to the price of gasoline itself. Depending on your state regulated taxes

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