Petroleum

World markets determine the prices for most energy commodities with oil being the most important. The price of oil is the main factor affecting the price of gasoline and makes up about 50% of the cost of a gallon of gasoline. The other significant factors are margins, transportation, taxes, and refining operating costs. World crude demand is now about 102 million barrels per day and still growing slightly. We must move to renewables without forgetting the petroleum work