The roller coaster rise and fall in gasoline and diesel prices over the last couple of years tracks changes in the cost of crude oil. Those changes are determined in the global crude oil market by the worldwide demand for and supply of crude oil. See the document below for detailed information.
Also, please the new API site Why Gas Prices are Rising to get up-to-date and detailed information on why gasoline prices are going up, how consumers can save at the pump, where consumer's money goes, and frequently asked questions.
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The administration’s backward energy policy is not helping to reduce gasoline prices and the proposed $85 billion tax increase on America’s oil and natural gas industry could result in less oil and natural gas for consumers, higher energy costs and the stifling of job creation while increasing the volatility of gasoline markets. This document demonstrates how the administration’s counter-productive approach to energy policy is at odds with the administration’s own “all-of-the-above” statements.
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Gasoline: According to the Energy Information Administration (EIA), the average U.S. retail price for regular grade of gasoline fell this week, down by 3.6 cents (1.0 percent) from the previous Monday’s price to $3.754 per gallon.
Diesel: According to the EIA, the average U.S. retail diesel price (including taxes) fell this week, down by 5.3 cents (1.3 percent) from last week to $4.004 per gallon.
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More expensive crude oil drives up gasoline and diesel prices. Historically, as crude prices have
increased, so have fuel prices.
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We want to be sure we do our best to conserve natural resources for future generations.
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Do you think most of the oil we use comes from the Middle East? You might be surprised.
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The Martec Group, Inc. has completed an in-depth study on the current and future utilization of lean combustion systems on gasoline engines by global light-duty automobile manufacturers.
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Gasoline is the fuel designed for spark-ignition internal combustion engines. There is a “basic recipe” for gasoline, since it must be used in a variety of vehicles with a broad range of engine types and operating conditions. ASTM International, formerly the American Society for Testing and Materials, has developed these specifications.
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