U.S. gasoline price breakdown by cost 2020

As of April 2020, crude oil accounted for a 25 percent share of the retail cost of gasoline in the United States. This is in stark contrast to the breakdown in September 2019, when crude oil accounted for a 54 percent share of the U.S. retail cost of gasoline.

U.S. gasoline cost breakdown

The end price that consumers pay for gasoline in the United States is made up from several different costs. The weighting of these different costs in the end price of gasoline is also very dynamic depending on the market. In March 2019, 56 percent of what United States consumers paid per gallon of gasoline was attributable to the cost of crude oil. In April 2020, just 25 percent of the cost of one U.S. gallon of gasoline was from the cost of crude oil (in relation to the 2020 oil crisis). The rest of the price included costs associated with refining, distribution and marketing, and taxes. The West Coast region of the U.S. had to pay the highest gasoline taxes out of all the regions in the United States, paying 50.86 cents per gallon as of January 2020. In that time period, the southern region of the U.S. paid the lowest gasoline taxes.

U.S. gasoline prices

Since 1980, U.S. gasoline prices have fluctuated greatly. As of the fourth quarter of 2019, the average national gas price was 2.91 U.S. dollars per gallon. Adjusted for inflation, however, the U.S. gasoline cost for end users in 2019 was 1.06 ‘real’ U.S. dollars per gallon. This ‘real’ U.S. dollars figure refers to the purchasing power of one U.S. dollar relative to the period of time between 1982 and 1984.

Gasoline price breakdown in the United States as of April 2020, by cost*

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Source

Release date

May 2020

Region

United States

Survey time period

April 2020

Supplementary notes

* Share of the retail gasoline price of 1.84 U.S. dollars per gallon in April 2020.

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Statistics on "Oil and gasoline prices"

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