The Edmond Sun

State News

December 17, 2013

AAA: Okla. gas prices about $1 less since May

(Continued)

EDMOND — marks@edmondsun.com | 341-2121, ext. 108

What do I pay for in a gallon of regular gasoline?

The national average retail price of a gallon of regular gasoline in October 2013 was $3.34. The four main components of the retail price and approximate shares of the total price based on the October 2013 national average of $3.34 were:

Crude Oil: 71 percent. 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 per barrel of crude oil, or about $2.37 per gallon;

Refining costs and profits: 5 percent;

Distribution, marketing and retail costs and profits: 11 percent;

Taxes: 13 percent. Federal excise taxes were 18.4 cents per gallon and state excise taxes averaged 23.52 cents per gallon.

Source: U.S. Energy Information Administration

 

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