What Drives U.S. Gasoline Prices?

"Crude oil is the main input cost in the production of gasoline, and changes in crude oil price, along with changes in gasoline market conditions, drive changes in wholesale and retail gasoline prices. EIA estimates that about two-thirds of the price of gasoline at the pump is attributable to the refinery cost of crude oil. When the price of crude oil changes, the price of wholesale gasoline adjusts concurrently to reflect the increased refinery input cost, other market factors being equal..."
Gasoline prices

"Gas-Saving" Products

"When gas prices go up, it seems like the number of ads for gas-saving products does, too. Although there are practical steps you can take to increase your gas mileage, be on the lookout for gas-saving claims for automotive devices or oil and gas additives. Even for the few gas-saving products that have been found to work, the savings are small..."
Gas saving products

Propane help for Wisconsin resident

"After meeting today[1/27/14] with representatives from the propane industry and state government officials, Governor Scott Walker instructed the Department of Administration’s Division of Energy Services to release an additional $7 million in energy assistance benefits, for a total of $8.5 million in additional funds, to help support low-income Wisconsin residents who use propane to heat their homes.   The Governor also directed the Wisconsin Economic Development Corporation and Wisconsin Housing and Economic Development Authority to move forward with a combined $8 million in loan guarantee programs to help ensure propane dealers are able to obtain propane on the wholesale market and deliver it to consumers..."
Propane shortage

Gas Prices

Click on a map and view gas prices by state and cities.
Gas Prices

Current Price Topics: The Impact of Fuel Surcharges on the PPI
"Recent news reports indicate that rising fuel costs effect all segments of the United States economy.[1] Industry experts agree, noting that consumers are affected by higher transportation costs passed on by shippers to their customers.[2] Although many consumers experience high gasoline prices at the pump, few realize the degree to which high fuel costs also influence prices paid for other goods and services; fuel surcharges drive up shipping costs and often are passed on to buyers in the form of higher prices.[3]

For transportation service providers, shipping prices are typically set using a combination of a base rate along with surcharges or discounts. Base rates can vary by mode of transportation, but generally they are a contractual amount to move freight from origin to destination on the basis of mileage and volume. In addition to fuel surcharges, other common surcharges pass on the cost for deadheading (making a return trip without passengers or freight), insurance, and security.."

Short-Term Energy and Summer Fuels Outlook
Forecasts for gas prices and supply.

Department of Defense Fuel Costs in Iraq
"Since the invasion of Iraq in 2003, the average price of fuels purchased for military operations in Iraq has steadily increased. The disparity between the higher price of fuel supplied to the United States Central Command compared to Iraq’s civilian population has been a point of contention. Several factors contribute to the disparity, including the different types of fuel used by the military compared to Iraqi civilians, the Iraqi government’s price subsidies, and the level pricing that the DOD’s Defense Logistics Agency charges for military customers around the world. The Iraqi government has been pressured to reduce its fuel subsidy and black market fuel prices remain higher than the official subsidized price."

Next Stop for Oil Prices: $100 or $150?
"This presentation provides an analysis of the various factors behind a six year, six-folding in oil prices and the market conditions likely to either accelerate that rise or result in a significant downturn."

Fact Sheet: Reducing Gas Prices and Foreign Oil Dependence
"Today, President Bush called on Congress to help American families by removing barriers to domestic production of oil and gasoline. For many Americans, there is no more pressing concern than high gasoline prices. Behind them is the basic law of supply and demand. In recent years, the world's demand for oil has grown dramatically. Meanwhile, the supply of oil has grown much more slowly. As a result, oil prices have risen sharply, and that increase has been reflected at American gas pumps. And now much of the oil consumed in America comes from abroad, including from unstable regions and unfriendly regimes. The Bush Administration has repeatedly called on Congress to expand domestic oil production. Unfortunately, Congressional Democrats have rejected virtually every proposal. Now, Americans are paying the price at the pump for this obstruction..."

The Truth About America’s Energy: Big Oil Stockpiles Supplies and Pockets Profits — A Special Report by the Committee on Natural Resources Majority Staff
"While the oil industry and some Members of Congress argue that
opening more federal lands and waters would lead to lower gasoline prices,
the facts prove otherwise. The fact is that the Nation simply cannot drill its
way to lower prices at the pump. Other options, from greater energy
efficiencies to the development of alternative fuels, are essential to reducing
dependency on petroleum fuels and lowering fuel costs."

Gasoline Prices, 2008
Compiled by the Government Documents Librarian at the University of Michigan, this site is full of statistics on pump and crude oil prices, exchange rates, oil reserves, and company profits. In addition, numerous solutions for addressing the energy crisis are presented.

Real Petroleum Prices
"Real Petroleum Prices are computed by dividing the nominal price in a given month by the ratio of the Consumer Price Index (CPI) in that month to the CPI in some "base" period. The Real Petroleum Prices spreadsheet and charts are updated every month so that the current month is the base period in the monthly price series. Consequently, all real prices are expressed in "current" dollars and any current month price may be compared directly with any past or projected real prices."

Motor Gasoline Consumption 2008: A Historical Perspective and Short-Term Projections
"Highlights

* Income growth rates have less of an impact on recent trends in gasoline consumption than in the past, but short-run effects are still significant.

* High gasoline prices are once again motivating drivers to conserve by driving less and purchasing more fuel-efficient transportation.

* The increasing share of lower-Btu-content ethanol has contributed to a growing divergence between volume-based and energy-content-based measures of trends in gasoline consumption.

* Consumer sensitivity to gasoline price changes increases during periods when retail prices exceed $2.50 per gallon.

* High gasoline prices and a slowing economy, which have reduced gasoline demand in recent months, are also projected to impact demand during the 2008 summer driving season."

Short-Term Energy and Summer Fuels Outlook
"West Texas Intermediate (WTI) crude oil prices, which averaged $72.32 per barrel in 2007, are projected to average $101 per barrel in 2008 and $92.50 per barrel in 2009.

The projected higher costs for crude oil will contribute to higher petroleum product prices. Motor gasoline prices are projected to average $3.36 per gallon in 2008, up 55 cents from last year. Diesel prices are projected to show even larger increases in 2008, averaging $3.62 per gallon, or 74 cents above the 2007 average price. The monthly average gasoline price is projected to peak at about $3.60 per gallon this spring, while monthly diesel prices are expected to average about $3.90 per gallon in March and April. Weekly diesel prices have already crossed the $4.00-per-gallon threshold in many regions of the country."