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Fuel Prices Explained

Discover the Oil and Gas Industry
15 November 2022
Blog Post

The primary factors impacting gasoline prices are global crude oil cost (61%), refining costs (14%), distribution and marketing costs (11%) and federal & state taxes (14%), which are generally reflected in the wholesale costs that gasoline retailers pay to distributors. In addition to these factors, retail stations have to address local factors that can impact retail fuel prices such as store types (branded or unbranded), store location & local competition, fuel delivery method, length of existing contracts with suppliers, volumes purchased, and specific store considerations (e.g., labor costs, real estate costs, electricity, credit card fees, equipment cost & maintenance, etc.).

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