$3.07 at the Pump
For those of us who live in California, we pay dearly for gasoline at the pumps. We pay roughly $0.20 cents more than those who live in the Midwest. The recent surge of the crude oil price at $75 dollars per barrel has caused gasoline prices to spike all over. Gas prices in California are now well above the $3 dollar mark. I just bought gas at $3.07 per gallon at a local Valero station. This is one of the cheapest I can find in and around the Bay Area. So, if I have to blame someone for the gas prices, just look at this breakdown. Gas price is 59% crude oil, 20% taxes, 11% distribution and marketing, 10% refining. The big oil companies such as Exxon, Shell, etc. accounts to about 21% of the price of gasoline. It doesn’t take a rocket scientist to figure out that a large percentage of the price is controlled by OPEC. As a nation, we need to stop our reliance on oil, and most importantly on OPEC oil.
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