American Petroleum Institute Breaks Down How Global Oil Markets, Taxes and Refining Shape Gas Prices
March 16, 2026
March 16, 2026
WASHINGTON, March 16 [Category: Energy] -- The American Petroleum Institute posted the following news release:
* * *
How Gasoline Prices Are Determined
*
Gasoline prices reflect costs across the fuel supply chain-from crude oil production to refining, distribution and retail sales. The largest factor is the price of crude oil, which is traded in global markets. Refining costs, distribution and marketing expenses, and federal and state taxes als . . .
* * *
How Gasoline Prices Are Determined
*
Gasoline prices reflect costs across the fuel supply chain-from crude oil production to refining, distribution and retail sales. The largest factor is the price of crude oil, which is traded in global markets. Refining costs, distribution and marketing expenses, and federal and state taxes als . . .