Earnings: Pump Prices, a Fractional story
The biggest single component of retail gasoline prices is the cost of the raw material used to produce gasoline – crude oil. Crude oil alone makes up 58 percent of pump prices.
Refining the crude oil into gasoline accounts for 17 percent of the retail price. Retailing adds another 10 percent to the retail price of gasoline. Taxes account for 15 percent of the price of gasoline.