So how much does a gallon of unleaded regular gasoline cost today, compared to previous years? The United States Energy Information Administration (EIA) publishes a table of prices that breaks down the average cost of gasoline along with the percentage of refining, distribution and marketing, taxes, and crude oil. We’ve taken the table and turned it into two charts.
The first chart simply shows the average cost of a gallon of regular unleaded gasoline over the years, starting in January 2000 through April 2012.
The first drop in prices was due to the tragedy of September 11th. In the New York metropolitan area, the price of gasoline actually dipped below one dollar per gallon. The huge drop in prices in the fall of 2008 was due to the global economic meltdown, caused by the housing crisis. As the Fed cranked up the printing press, crude prices returned to their climbing trend.
This second chart breaks down the component cost of each gallon of gasoline, by percentage. Note that as crude costs rise dramatically per gallon, the comparative tax cost drops.
The price of crude oil is set globally. America is a victim of this scheme. Until we get serious about achieving domestic energy independence, our economy will be whipped with the irregularities of the market and the whims of those who either control the oil or control the prices.
Partisan politics have bordered upon treason of late. Ours is a government by the people, for the people, not by the corporate interest, for the corporate interest. We have the ways and means to end our reliance on imported oil. We need a steady hand on the wheel to get to where we need to be.
- by Daniel Gray
June 16th, 2012
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