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How crude-oil prices influence gasoline prices

Green Car Congress

Gasoline is one of the products refined from crude oil. Thus, the price of crude oil should have a strong influence on the price of gasoline. However, the retail price of gasoline includes other costs as well. Gasoline prices are also influenced by gasoline demand relative to gasoline supply.

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DOE: Adjusted for inflation, the price of gasoline in 2019 was similar to the price in 1929

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The average annual price of gasoline has fluctuated greatly over the past several decades, but when adjusted for inflation (constant dollars), the price of gasoline in 2019 was only nine cents higher than in 1929, according to the US Department of Energy (DOE). The graph below shows the effect of the oil embargo in the early 1980s.

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IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

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A sudden drop in miles traveled by car in the US triggered by wide-spread social isolation measures will have immediate ramifications for gasoline demand. IHS Markit analysis finds that US gasoline demand could fall by as much as 4.1 The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1 million units.

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Neste Oil to invest €65M to enhance high-octane gasoline production at Porvoo

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Neste Oil has decided to build an isomerization unit at its Porvoo refinery. The investment, valued at approximately €65 million (US$88 million), is intended to increase the output of high-octane gasoline and improve refining flexibility at the site. The isomerization unit will have a capacity of 600,000 t/a.

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Actual fuel economy of cars and light trucks: 1966-2019

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A modest increase between 2004 and 2008 (from 19.6 A minor increase between 2008 and 2019 (from 21.8 In terms of fuel consumption per distance driven, the change between 1973 (the year of the first oil embargo) and 1991 (from 7.75 In comparison, the change between 2008 and 2019 (from 4.59 mpg for both years). per year.

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New UC Davis market-based sustainability forecasting approach concludes supplanting gasoline and diesel with renewable fuels could take 131 years

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At the current pace of research and development, replacing gasoline and diesel with renewable fuel alternatives could take some 131 years, according to a new University of California, Davis, study using a new sustainability forecasting approach based on market expectations. The forecast was published online 8 Nov.

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Neste Oil to Postpone Gasoline Project at Porvoo, Concentrate Resources on NExBTL

Green Car Congress

Neste Oil has decided to postpone construction of a new gasoline isomerization unit at its Porvoo, Finland refinery. The decision to build a new isomerization unit was taken in summer 2008 and its investment cost was estimated to be approximately €80 million (US$104 million). Earlier post.). Earlier post.).

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