Why are oil prices always given as cost per barrel, instead of gallon?

Question

Why are oil prices always given as cost per barrel, instead of gallon?

April 26, 2017events given Modern Oil politics prices sciences social

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What frustrates me with the prices of gas, if you look at the actual price of a barrel even if you add in research and new products it still should be under a dollar. Do you think these f_____ tree huggers will ever allow drilling in our own country?
Why are oil prices always given as cost per barrel, instead of gallon?
Why have the oil prices risen?

score 0 · Answer 1 · 2010-02-24T10:40:21+00:00

Crude oil is never sold retail, only the products obtained through the refining process (which varies in price – i.e. expensive gasoline, not so expensive kerosene and rather inexpensive asphalt). Therefore, it is traded in wholesale quantities, which are always larger than retail ones.

Why are oil prices always given as cost per barrel, instead of gallon?

1 Answer

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