Crude oil prices dipped below $65 on Monday , keeping oil’s price surprisingly steady in light of early “summer driving season.” But wait… if oil is still at $65, what’s wrong with this picture?
Only half of unleaded’s price is derived from the price of crude oil.
Add in “28% from the cost of refining, 14% in taxes and 8% in distribution and marketing,” says Don Briggs of the Louisiana Oil & Gas Association. Refineries and distribution continue to plague the gas industry… and are helping to keep prices high. Don’t look for a let-up before September.
Only half of unleaded’s price is derived from the price of crude oil.
Add in “28% from the cost of refining, 14% in taxes and 8% in distribution and marketing,” says Don Briggs of the Louisiana Oil & Gas Association. Refineries and distribution continue to plague the gas industry… and are helping to keep prices high. Don’t look for a let-up before September.
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