If you’re like most people, when you think of the oil and gas industry, you think of gasoline. And more often than not, a conversation about gasoline is about the price, so that’s what we’ve covered here.

Gasoline is known as “gas” but it’s actually made from oil. So when you buy a litre of gasoline, some of the cost pays for the crude oil that went into the gasoline. You also have to pay the costs of refining the oil, distributing the gasoline (via pipelines and trucks) and selling it at gas stations. Think that’s it? Nope! You also have to pay the taxes, which average more than 30% of the total cost.

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