A 42 gallon barrel of oil costing $75/bbl is about $1.78/gallon of crude. The refining process does not yield 42 gallons of gasoline and uses some of the energy in the crude for heat to run the process. It is easy to see that the cost of the crude in a gallon of gas is greater than $1.80 or more than 60% of the retail price at $3.00 per gallon...
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Yes, I agree it is higher. Am doing some research now to find gas yield per gallon of crude, which will vary for sure from state to state. For what it is worth, in California, our gas taxes are about 41.6 cents state plus 18.4 cents federal. That is about 60 cents of the cost right there....more to follow.
If sweet oil ~37 gals. gas to a barrel of oil. If heavy oil less.