Chart of the Day: Don’t Blame the Gas Station for Price Spike
Here’s a cool graphic from the EIA on what drives the price of a gallon of gasoline in January 2012. We paid $4.20 last night in California!
Note 76 percent of the price for a gallon of gas is driven by crude oil. Only 6 percent by refining and 6% distribution and marketing. Though these components do vary over time, but not by much.
(click here if graphic is not observable)