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I was always wondering how the Market hype actually affects the price at the pump. Here is what I was able to find out. One barrel of crude oil makes about 19½ gallons of gasoline, 9 gallons of fuel oil, 4 gallons of jet fuel, and 11 gallons of other products, including lubricants, kerosene, asphalt, and petrochemical feedstocks to make plastics. The current price at the pump is about $3… At $3 per gallon * 19.5 gallons in one barrel = $58.50 per barrel. $100 per barrel - $60 actual cost or about $40 in market speculation… In actuality the price per barrel is much lower considering the actual cost breakdown… At $3 per gallon the raw cost is about $1.98 per gallon… ($3 * 66% = $1.98 per gallon (Actual cost of crude, 40% plus refining costs 13%, plus distribution 13%, excluding taxes) The total cost is 19.5 * $1.98 = $38.61 per barrel raw costs. Source: http://www.gravmag.com/oil.html