Price Per Barrel Versus Price Per Gallon
There are many components that make up the price per gallon of gas we pay. Mainly, this includes cost per barrel, refining, taxes, and distribution.
However, the price per gallon of gas does not always directly correlate with the price per barrel for crude oil. In 2008, the price per gallon of gas did not spike as high as it should have based on the price of crude oil. Much of this discrepancy is from government efforts to keep the cost at a more affordable level.
With the recent surge in prices for both diesel and regular fuel, it is yet to be seen what efforts the government will take to reduce this cost. Keeping the price per gallon in check is important to continue growth in the trucking industry and general US economy.