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Old 03-17-2012, 05:20 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,475 posts, read 13,799,091 times
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What am I paying for in the price of a gallon of gasoline? | ExxonMobil's Perspectives Blog

To put that in another way – about $2.62 of the average gallon of gas in this example is set before a refiner even touches the raw material.
Where I find many people get confused is that they assume oil companies are producing all the oil that goes into their own refineries – and therefore can control gas prices by controlling the supply chain. That’s not the case.

That link was based on gas prices in Dec. 2011. It's pretty interesting to see who has control over what goes into the price.

Gheit says that 75 percent of what Americans pay for gasoline comes from the costs of crude oil. For gas to get down to $2.50 per gallon, he said, the price of a barrel of crude oil would have to get down to around $50.

The current price of crude? $126 per barrel.

"Only a depression would bring oil prices down that much," said Gheit.
Could Gingrich really lower gas to $2.50 per gallon? - Political Hotsheet - CBS News
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Old 03-17-2012, 07:20 AM
 
16,678 posts, read 9,057,703 times
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I believe Exxon is correct. Their blog is normally demonized by the left though as they correctly point out that the government makes a substantial more profit off of their oil than they do.
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Old 03-17-2012, 03:08 PM
 
Location: Riverside
4,088 posts, read 3,678,734 times
Reputation: 3076
Quote:
Originally Posted by 70Ford View Post
What am I paying for in the price of a gallon of gasoline? | ExxonMobil's Perspectives Blog

To put that in another way – about $2.62 of the average gallon of gas in this example is set before a refiner even touches the raw material.
Where I find many people get confused is that they assume oil companies are producing all the oil that goes into their own refineries – and therefore can control gas prices by controlling the supply chain. That’s not the case.

That link was based on gas prices in Dec. 2011. It's pretty interesting to see who has control over what goes into the price.

Gheit says that 75 percent of what Americans pay for gasoline comes from the costs of crude oil. For gas to get down to $2.50 per gallon, he said, the price of a barrel of crude oil would have to get down to around $50.

The current price of crude? $126 per barrel.

"Only a depression would bring oil prices down that much," said Gheit.
Could Gingrich really lower gas to $2.50 per gallon? - Political Hotsheet - CBS News

This NYT article says there not much evidence that the per gallon price of gas has any impact at the voting booth:

http://www.nytimes.com/2012/03/17/us...votes.html?hpw

My guess is that, those who were going to vote for Obama won't be deterred by higher gas prices. And those who will vote against him, wouldn't care if gas was FREE.
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