Does the price of oil affect the price of gas? Why/how?

Question

Does the price of oil affect the price of gas? Why/how?

Answer 1

Yes....... a barrell of oil has 42 gallons.... and ends up producing 44 gallons of petroleum products.

about 19.15 of that is used for gasoline

Check out this site... it explains what a barrell of oil all goes into ...at about the middle of the page

http://www.eia.doe.gov/kids/energyfacts/...

Answer 2

no  

Answer 3

Where do you think GASOLINE COMES FROM?... It is produced from OIL in a 'cracking' plant that heats the raw oil flowing into the bottom of the CRACKING TOWER and then, as the hot oil travels upwards, different types of fuel are drawn off at different levels... there is #1 and #2 Diesel fuel, Heating Oil, Gasoline, Aviation Gasoline etc... the higher up the cracking tower the product is drawn off, the purer it is.

Obviously, the COST of producing fuel oils is DIRECTLY related to the cost of the oil itself... Out of 10 gallons of oil, you can get one gallon of auto grade gasoline so the cost of that one gallon of gas will be proportional to the raw cost of the oil

Answer 4

You would think that it would, and it should, but I know that it doesn't.  I really don't understand why.  I think the explanation would be very complicated.  Sorry I can't explain it for you.  I would love it if someone could.