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Questions About Prices...
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Question:
Why are retail gasoline prices so high?
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EIA analysis of the petroleum market points to the cost of crude oil as the main contributor to the record high gasoline prices that we are now experiencing.
The cost of crude oil now accounts for almost 70% of the gasoline pump price. World crude oil prices are at record highs due mainly to high worldwide oil demand relative to supply. Other factors contributing to higher prices include political events and conflicts in some major oil producing regions, as well as other factors such as the declining value of the U.S. dollar (the currency at which crude oil is traded globally).
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| Learn
More: Gasoline prices are often the main topic
of This
Week In Petroleum. The February 27 edition discusses how crude oil prices are affecting gasoline prices.
For EIA's latest gasoline price
forecast, please see our Short-Term
Energy Outlook. |
| Last updated: March 19, 2008 |
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Question:
What are the differences between various types of crude
oil prices?
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| Crude oils vary in price because
they vary in quality. Other factors—the makeup
of the oil or its market penetration—can also
influence price. West Texas Intermediate and Brent Blend
are two crude oils that are either traded themselves
or whose prices affect other types of crude oil. The
press and analysts often refer to the following crude
oil prices: West Texas Intermediate, Brent Blend, Imported
Refiner Acquisition Cost (IRAC), OPEC Basket, and the
NYMEX futures. |
| Learn More: Pricing
differences among various types of crude oil |
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Last reviewed: April 17, 2008 |
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Question:
How do I calculate/find diesel fuel surcharges?
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The Energy Information Administration does not calculate, assess, or regulate diesel fuel surcharges. |
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Fuel surcharges are negotiated privately by the shipper and the trucking company. |
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EIA collects and disseminates weekly retail diesel fuel price data. Many shippers and truckers use that weekly retail price information in their fuel pricing formulas. |
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More: EIA weekly diesel fuel price data: “Weekly Retail On-Highway Diesel Prices” |
| Last reviewed: April 17, 2008 |
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Question:
What are the different types of coal prices?
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Question:
How do I compare heating fuels?
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When choosing a heating system for a new home or
replacing an existing system, consumers often want
to compare the cost of heating fuels. Because fuels
are measured and sold in different units such as gallons
of oil, therms of natural gas, or kilowatt hours (kWh)
of electricity, comparing the price of dissimilar
units is not useful.
A more useful comparison is the fuel cost per amount
of heat produced. EIA’s Heating
Fuel Comparison Calculator (Excel) helps you
make this comparison. It factors in the relative price
based on the fuel heat content and the heating appliance’s
efficiency. The Comparison Calculator
provides step-by-step instructions, including how
to find cost and efficiency data to use with the Calculator.
(The Calculator is a Microsoft Excel
spreadsheet. You can use it online or save it to your
hard drive and then open it in Excel.)
In choosing a heating system, don’t rely solely
on cost. Numerous factors will determine the heating
system that best meets your needs. The Comparison
Calculator (Excel) provides links to additional
information that will help you choose a heating system. |
| Learn
More: Compare
fuel costs (Excel) |
| Last updated: March 6, 2008 |
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