[OPE-L] A few graphs on petro-price trends

From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Mon Nov 12 2007 - 16:02:37 EST

Oil prices and US GDP - the inverse relationship

US regular gasoline prices since 1990:


Because a much greater proportion of the price of petrol in the United States is due to the cost of oil, rather than taxes, the price of retail petrol shows much greater fluctuations than.in Europe and Japan. DoE  March 2007 figures suggested just over half of the cost of US gasoline (52%) pays for crude oil costs, nearly a quarter for refining costs (24%), 15% to taxes, and 9% for distribution and marketing costs. CES data show the "average" US household spends only about 5% of their total annual budget directly on petrol and fuel oil, but most of the products they buy involve petrol costs, and if they travel less by car in aggregate, they buy less in aggregate.

Crude oil prices

Recent trend 

Oil price and gold price 

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