How Crude Oil Reaches the Gas Pump
Figures from EIA data; latest published observations: WTI Oct 20, 2026, Brent Oct 20, 2026.
The cost of crude oil is the largest component of the retail price of gasoline, but not the only one. [EIA] This page follows a barrel of crude to the pump.
From barrel to gallon
A barrel is 42 U.S. gallons. [EIA] Dividing the latest published WTI spot price of $107.89 per barrel (Oct 20, 2026) by 42 gives $2.57 per gallon of crude oil (Brent: $2.74). This is a unit conversion of the crude oil price, not a gasoline or retail price. By the same arithmetic, each $1 change in the price per barrel equals about 2.4 cents per gallon of crude.
A barrel of crude does not become 42 gallons of gasoline. On average, U.S. refineries produce about 19 to 20 gallons of motor gasoline and 11 to 13 gallons of distillate fuel, most of it sold as diesel, from each 42-gallon barrel, along with jet fuel and other products. [EIA] [EIA]
What goes into the pump price
The EIA breaks the retail price of gasoline into four parts: [EIA]
- The cost of crude oil. The largest component; its share varies over time and across regions.
- Refining costs and profits.
- Distribution and marketing.
- Taxes. As of January 2026, federal taxes on gasoline were 18.4 cents per gallon (an 18.3-cent excise tax plus a 0.1-cent fee), and state taxes averaged 33.27 cents. [EIA]
Why gasoline does not move exactly with crude
Gasoline prices can change rapidly if something disrupts crude oil supplies, refinery operations or gasoline pipeline deliveries. Even when crude oil prices are stable, gasoline prices change with seasonal demand and seasonal gasoline specifications. [EIA]
For retail gasoline prices by state, see US Gas Gauge.