There are 42 gallons of products in one barrel of crude. While oil from various regions have varying properties, on average, a barrel of crude contains about 19.4 gallons of gasoline, 8.9 gallons of fuel oil (used for home heating oil, diesel fuel, and commercial fuel oil), 4.2 gallons of jet fuel, 2.7 gallons of resid (used as industrial fuel), 2.0 gallons of still gas (used for marine transportation or power), 1.8 gallons of coke (mostly exported as industrial fuel), 1.8 gallons of liquefied gas (think propane, butane, etc.), 1.4 gallons of petrochemical feedstock, 1.3 gallons of asphalt, 0.5 gallons of lubricants, and 0.3 gallons of others. The total of these products is 2.3 gallons more than 42, due to reprocessing. The price per barrel is a moving target, but today it hovers around $135. The price of regular unleaded averages $3.88, nationally. The 19.4 gallons of gasoline represents 46% of a barrel of crude, or $62.1, or $3.20 per gallon of gasoline. Add in 60 cents for taxes, 20 cents for refining, and 20 cents for transportation per gallon, and we are up to $4.20 per gallon of gas. It seems possible that the price per oil barrel has yet to be fully represented into the retail pump price.
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