TRANSPORTATION ENERGY DATA BOOK: EDITION 20 - Center for ...

5-6
I
Though the cost of crude oil certainly injluences the price of gasoline, it is not the only factor which
determines the price at the pump. Processing cost, transportation cost, and taxes also play a major
part of the cost of a gallon of gasoline. The average price of a barrel of crude oil (in constant 1990
dollars) declined by 38% jrom I990 to 1999, while the average price of a gallon of gasoline declined
22% in this same time period.
Table 5.3
Prices for a Barrel of Crude Oil and a Gallon of Gasoline, 1978-99
Crude oil” Gasoline”
(dollars per barrel) (cents per gallon)
Ratio of
gasoline
to
crude oil
Year Current Constant 1998” Current Constant 1998”
1978 12.5
31.1 65.2
162.9 219.8
1979 17.7
39.8 88.2
198.1 209.1
1980 28.1
55.5 122.1
241.6 182.7
1981 35.2
63.2 135.3
242.5 161.3
1982 31.9
53.8 128.1
216.4 168.8
1983 29.0
47.4 122.5
200.5 177.5
1984 28.6
44.9 119.8
188.0 175.7
1985 26.8
40.5 119.6
181.3 187.8
1986 14.6
21.6 93.1
138.4 268.7
1987 17.9
25.7 95.7
137.3 224.5
1988 14.7
20.2 96.3
132.7 275.7
1989 18.0
23.6 106.0
139.4 247.7
1990 22.2
27.7 121.7
151.8 230.0
1991 19.1
22.8 119.6
143.1 263.5
1992 18.4
21.4 119.0
138.3 271.2
1993 16.4
18.5 117.3
132.4 300.2
1994 15.6
17.2 117.4
129.1 316.3
1995 17.2
18.4 120.5
128.9 293.7
1996 20.7
21.5 128.8
133.8 261.2
1997 19.0
19.3 129.1
131.1 284.8
1998 12.5
12.6 111.5
111.5 372.6
1999 17.5
17.1 122.1
118.5 291.3
Average annual percentage change
1978-99 1.6%
-2.8% 3.0% -1.5%
1989-99 -0.3%
-3.2% 1.3% -1.6%
Sources:
Crude oil - U.S. Department of Energy, Energy Infoimation Administration, Monthly Energy Review,
March 2000, Washington, DC, Table 9.1.
Gasoline - U.S. Department of Energy, Energy Information Administration, Monthly Energy Review,
March 2000, Washington, DC, Table 9.4.
(Additional resources: www.eia.doe.gov)
“Refiner acquisition cost of composite (domestic and imported) crude oil.
“Average for all types. These prices were collected from a sample of service stations in 85 urban areas
selected to represent all urban consumers. Urban consumers make LIP about 80% of the total U.S. population.
“Adjusted by the Consumer Price Inflation Index.
TRANSPORTATIONENERGYDATABOOR: EDITION~O-2000