> $105 oil would translate into gas prices of $4.15-5.50 a gallon, based
> on historical price relationships. The markup now, despite all the
> complaints about gouging, is actually on the low end (1.66/1 - there
> are 42 gallons in a barrel of oil); the average is closer to 2.5/1.
from doe kids pages ...
One barrel of crude oil, when refined, produces about 20 gallons of finished motor gasoline, and 7 gallons of diesel, as well as other petroleum products. Most of the petroleum products are used to produce energy. For instance, many people across the United States use propane to heat their homes and fuel their cars. Other products made from petroleum include: ink, crayons, bubble gum, dishwashing liquids, deodorant, eyeglasses, records, tires, ammonia, and heart valves.