In 2008, crude oil topped $111 a barrel for the first time. During that time, the U.S. average retail price for regular unleaded gasoline reached $3.28 a gallon.
Despite the increase, people in the United States still pay significantly less for gasoline than people in many other countries.
This chart depicts the elements of production, transportation, refining and distribution required to transform crude oil into finished petroleum products like gasoline.
In the United States, the average tax on gasoline is 47 cents per gallon. The tax is usually a combination of federal, state and local fees, underground storage tank fees and other environmental fees. Many European countries attach much higher fees as an incentive to reduce greenhouse gas emissions and raise revenue, increasing the overall price of gasoline.
