Why is the cost of gas so high?
I can’t understand why the cost of gasoline is so expensive today. It is almost as much as when oil was $140 per barrel. Today it is hovering around the $50 mark.
Here is what the refiner gets from a barrel of oil. A barrel of crude oil is about 42 US gallons (168 litres). Oil refineries heat it to 370 degrees Celsius; as the vapour rises it is transformed into various oil products. The lighter molecules of gasoline, diesel or jet fuel continue to rise until it is cooled and siphoned into separate holding tanks. A barrel of crude oil can make about 19 US gallons of gasoline, 10 gallons of diesel, four gallons of jet fuel and another nine gallons of other oil products such as liquid petroleum gas, plastics, lubricants or heating oil. Bruce Scott, Burlington