Refining Has a Price

Refiners need to be paid to distil crude oil into gasoline and add the required additives. In the decade through 2020, refining costs and profits accounted for 14% of the retail price of gasoline, on average. Seasonal and regional blending requirements and additives such as ethanol add to the cost.

The price of wholesale gasoline also reflects supply and demand. For example, gasoline prices typically rise in the summer in the US due to higher demand.