Gas pricing

I was watching THE O'RIELY FACTOR last night and he was saying that the only reason gas should be $3 a gallon is if oil was $95 a barrel.How did they come up with this and how do they determine what they will charge.How much gas can you make from 1 barrel?

*trying to be ladylike*

They are sticking it to us, dear, thats why.

The world as WE know it is ending, i beleive this now.

To answer the question. I believe it's about 20 gallons of gas from a 42 gallon barrel. The remaining portions are made in to diesel, jet fuel, plastics, ect. I don't know what the refinery and transportation cost are, but just look at the current profits the oil companies are making and you'll see that they are making off with a load of loot.

Source eia.doe.gov


[edit on 22-9-2005 by dbates]