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http://thefilmarchive.org/ March 19, 2012 The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide the trade prices are similar, the price paid by consumers largely reflects national pricing policy: some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabia and Venezuela, subsidize the cost. Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 386 million US gallons (1.46 gigalitres) each day in 2005. U.S. petroleum consumption reached an estimated 18.87 million barrels per day in 2011, and is expected to increase to 18.96 million barrels per day in 2012. U.S. gasoline demand decreased to an average of 8.75 million barrels per day in 2011 (approximately 368 million gallons per day), or about 41 million fill-ups per day (based on a 9-gallon fill-up). Demand for 2012 is projected to continue to decline to 8.74 million barrels per day. Drivers in the United States traveled 8.105 billion miles per day in 2011, and are expected to travel 8.158 billion miles per day in 2012. This equates to an average of 33 miles per vehicle per day. On average, U.S. drivers consume 1.49 gallons of gasoline per day, or about 10.44 gallons per week. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices.[4] According to the report, in April fuel consumption had been lower than a year before for the sixth straight month, suggesting 2008 would be the first year US usage declined in 17 years. The total annual distance driven in the US began declining in 2006. The average price in 2011 (as of September) was $3.56, the highest ever for a year, though Tom Kloza of the Oil Price Information Service predicted Americans would also buy the most gasoline ever — $490 billion worth. As of September 26, the average price of gasoline was $3.51, with California at $3.89 for the highest in the U.S., and Missouri at $3.21 for the lowest. Finished motor gasoline amounts to 44% of the total US consumption of petroleum products. This corresponds to 18.5 Exajoules per year. As of February 2012 the cost of crude oil accounted for 72% of the cost of a gallon of gasoline in the United State while refining accounted for just 12%. Taxes and distribution/marketing accounted for 11% and 5% respectively. Crude oil is the greatest contributing factor when it comes to the price of gasoline. This is the case due to the resources it takes to remove it from the ground, transport, and refine it. Between 2004 and 2008, there was an increase in fuel costs due in large part to a worldwide increase in demand for crude oil. Prices leapt from $35 to $140 per barrel, causing a corresponding increase in gas prices.[9] On the supply side, OPEC (or the Organization of the Petroleum Exporting Countries) has a great deal to do with the price of gasoline, both in the United States and around the world. The speculation of oil commodities can also affect the gasoline market. Refining is the second major factor that contributes to gasoline prices. Oil refining is done by heating the oil, usually with steam, to extreme temperatures; different components of the oil will boil off at different temperatures. This produces various products including gasoline; however, only about 40 percent of the product is gasoline. To produce more gasoline refineries must chemically change some of the other products that were produced. Taxes are the next biggest contributor to gasoline prices at around 12 percent. Both state and federal taxes apply to gasoline. In addition other taxes...