Chart shows what you're paying for when you buy a gallon of gas
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Oil comprises 51% of gas prices; Iran war drove 60-cent increase since February
How This Affects You
Average gas price reached $3.63 per gallon, up 60 cents since Iran conflict began
AI Summary
Oil accounts for 51% of the cost of a gallon of gas, with refining comprising 20% and marketing/distribution making up 11%, according to the Energy Information Administration. Gasoline prices have risen an average of roughly 60 cents since the Iran war began on February 28, with Brent crude oil hovering around $100 per barrel on Friday, up 38% from $73 before the war started. The average U.S. gasoline price was $3.63 per gallon as of Friday, according to AAA data. Gas stations earn an average of 30 to 35 cents per gallon, according to GasBuddy petroleum expert Patrick De Haan.
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