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Why are diesel prices almost double the price of gasoline?
I have heard that the federal excise tax on diesel is a few cents higher than gasoline and there may be a few cents difference in distribution costs but there is no premium in refining costs and they both come from the same barrel of oil. So why is diesel as much as 75% higher at the pump. Where is the extra dollar a gallon going?
3 Answers
- scott cLv 41 decade agoFavorite Answer
being an Owner Operator truck driver and remembering when just five years ago diesel was always cheaper I myself am baffled. The only reason I can come up with is that everything the military uses takes diesel in some form or another to run and I believe we all know the cost the War has incurred us. They are sucking the diesel up as fast as it can be produced. Out of a 42 gallon drum of oil only 7 gallons of diesel is produced vs. 19 gallons of gasoline. I guess in theory with a high demand this would explain why the diesel prices have risen so sharply compared to gasoline , there is an abundance of gas to keep up with the required supply of diesel.
- A GuyLv 71 decade ago
*Partly* because it gets better mileage than gasoline, for nearly equivalent engines and cars.
Source(s): US Federal gas mileage booklet. - Anonymous1 decade ago
TAXES.
