What affects gas prices

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Title: What affects gas prices

Essay Details:

Subject: Social Issues

Author: John R

Date: August 24, 2014

Level: University

Grade: A

Length: 2 / 482

Essay text:

43% goes to crude oil, 31% to taxes, 13% to refining costs and the final 13% goes to costs and profits. Price increases usually occur when the crude oil market tightens and lower inventories. Growing demand can sometimes outpace refinery capacity. Prices can also go up because of the type of crude oil available. There are different types of crude oil. They are heavy and light and sweet and sour. Light sweet oil is easier and cheaper to refine. Lately sweet oil supplies have been running low. So more sour oil has been used, which costs more to refine. Another reason prices can go up is station markup...

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