Frequently Asked Questions
What do I pay for in a gallon of regular gasoline?
The national average retail price of a gallon of regular gasoline in August 2012 was $3.72. The four main components of the retail price of a gallon of gasoline, and their approximate share of the total price in August are:
- Crude Oil: 64%. The cost of crude oil as a share of the retail price varies over time and among regions of the country. Refiners paid an average of about $100.00 per barrel of crude oil, or about $2.38 per gallon, in August 2012.
- Refining Costs and Profits: 18%
- Distribution, Marketing, and Retail Costs and Profits: 7%
- Taxes: 11%. Federal excise taxes were 18.4 cents per gallon and state excise taxes averaged 23.44 cents per gallon.
See the Gasoline and Diesel Fuels Update.
Factors Affecting Gasoline Prices explains what drives gasoline prices.
Last updated: September 25, 2012
Other FAQs about Crude Oil
- Do we have enough oil worldwide to meet our future needs?
- Does EIA have data on U.S. oil refineries and their locations?
- Does EIA have data on the movement of crude oil and ethanol by rail and truck?
- Does EIA have data on the type or quality of crude oil processed in U.S. refineries?
- Does EIA have maps or information on the location of natural gas and oil pipelines?
- How dependent is the United States on foreign oil?
- How many gallons of gasoline does one barrel of oil make?
- How much coal, natural gas, or petroleum is used to generate a kilowatt-hour of electricity?
- How much does it cost to produce crude oil and natural gas?
- How much of the oil produced in the U.S. is consumed in the U.S.?
- How much oil does the United States consume per year?
- How much oil is produced in Alaska and where does it go?
- How much oil is used to make plastic?
- How much petroleum does the United States import and from where?
- What are the differences between various types of crude oil prices?
- What are the products and uses of petroleum?
- What countries are the top world oil consumers?
- What countries are the top world oil net exporters?
- What countries are the top world oil net importers?
- What countries are the top world oil producers?
- What do I pay for in a gallon of regular gasoline?
- What is the difference between crude oil, petroleum products, and petroleum?
- What is the outlook for home heating fuel prices this winter?
- What types and amounts of energy are produced in each state?
- When was the last refinery built in the United States?
- Where is the boundary for state and federal offshore oil and gas production?
- Why don't fuel prices change as quickly as crude oil prices?
- Why is the United States exporting gasoline when prices are so high?