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The crack spread contract helps refiners to lock-in a crude oil price and heating oil and unleaded gasoline prices simultaneously in order to establish a fixed refining margin. One type of crack spread contract bundles the purchase of three crude oil futures (30,000 barrels) with the sale a month later of two unleaded gasoline futures (20,000 ...
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
The price of gasoline and diesel fuel are based on the price on the New York Mercantile Exchange as a benchmark in Canadian funds. This plus a 6 cent per litre wholesale margin, plus a transportation allowance of 0.5 to 2 cents per litre, and a retail margin of 4 to 5.5 cents per litre (or to a maximum of 7.5 cents per litre for full-serve gasoline).
Tight refining supply has kept the gap wide between wholesale gasoline futures and retail prices, currently at about $1.25 a gallon, far exceeding the average of 88 cents over the past five years.
The average retail price of gasoline was most recently at $3.40 for a regular gallon, up from roughly $2.11 at this time a year ago. The swift increase - 61% over 12 months - has alarmed consumers.
The national average cost of retail gasoline sits at $3.58 per gallon, $0.10 less than a week ago, and $0.30 off from last month, according to AAA data. Even California, which has the highest ...
Geographical pricing. Average gasoline prices by country. Geographical pricing, in marketing, is the practice of modifying a basic list price based on the geographical location of the buyer. It is intended to reflect the costs of shipping to different locations. There are several ways to apply the cost of shipping to the prices.
The average price of gasoline exceeded $5 a gallon for the first time ever last June—California has seen it surpass $6—as global oil shocks reverberated from Russia’s invasion of Ukraine.