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 What consumers are paying for at the gasoline pump

The world price of crude oil is the largest single factor in the price of gasoline. In fact, it accounts for more than half the cost. The remainder pays for refining the oil into gasoline, transporting the fuel and making it available at service stations. In addition, every time U.S. motorists pull up to the pump, they pay an average of about 40 cents in federal and state taxes per gallon of gasoline.
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