The majority of the price impact on gasoline comes from the cost of crude oil.
The majority of the price impact on gasoline comes from the cost of crude oil.
I exaggerated by saying “most”. But I don’t think that graphic is truly representative, a little oversimplified. Where is the cost of ethanol figured in? The cost of the penalties the refiners pay the feds for not using the mandated additives that curiously don’t exist?
The cost the dozens of mandated regional and seasonal blends? Is that part of the 12%? I don’t know.
Although it’s not showing in the retail cost, how about the price each of us *working taxpayers* antes up for the subsidies of the biofuels? Higher food costs? The snowballing costs of this whole biofuels hoax permeates our whole economy to varying degrees.