wingfield65
wingfield65 t1_iv2ze2s wrote
Reply to comment by kilog78 in What factors contribute to gas prices? [OC] by USAFacts_Official
That’s correct. That’s why the height of the green bar varies over time.
wingfield65 t1_iv2z6nq wrote
Reply to comment by Wizard01475 in What factors contribute to gas prices? [OC] by USAFacts_Official
yes - when price of oil goes up the cost for a refinery goes up for both feedstock and cost of refining. cost of refining will go up because utility costs go up.
wingfield65 t1_iv1kwm2 wrote
Reply to comment by irkli in What factors contribute to gas prices? [OC] by USAFacts_Official
Cost of crude represents majority of refinery costs.
wingfield65 t1_iv1kmjd wrote
Reply to comment by kilog78 in What factors contribute to gas prices? [OC] by USAFacts_Official
Refineries purchase crude on open market. Crude price function of supply and demand.
wingfield65 t1_iv1jtqj wrote
Reply to comment by gypsysniper9 in What factors contribute to gas prices? [OC] by USAFacts_Official
Profit margin equals revenue minus expenses. The above plot shows only expenses.
wingfield65 t1_iv1jg6k wrote
Reply to comment by Flowersforpepesilvia in What factors contribute to gas prices? [OC] by USAFacts_Official
The market
wingfield65 t1_iv1j8kn wrote
Reply to comment by OnePunchedMan in What factors contribute to gas prices? [OC] by USAFacts_Official
Crude costs fluctuate because price of crude is based on supply and demand
wingfield65 t1_iv1irdt wrote
Reply to comment by Wizard01475 in What factors contribute to gas prices? [OC] by USAFacts_Official
Refineries have to purchase crude oil.
wingfield65 t1_iv3aovb wrote
Reply to comment by kilog78 in What factors contribute to gas prices? [OC] by USAFacts_Official
there's a utility cost to refine crude. utility prices go up when cost of hydrocarbon goes up. I just resigned my electric contract recently and my cost went from 12c/kWh up to around 19c/kWh. that said, agree that the other costs should remain fairly constant over time.