eli5: why the current price of gas is much higher than in 2008 when the price of brent barrel was quite higher?
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1. Gasoline tax rates are higher than in 2008.
2. Labor and other materials required to refine and distribute gasoline are also likely higher (adjusted for inflation) due to the current supply chain disruptions and labor shortages.
3. Oil is used for lots of other things than just gasoline, such as plastics, etc., and therefore, ratio of supply/demand for gasoline is not necessarily the same as the the ratio of supply/demand of oil, and that ratio may have changed since 2008, with more/less supply of gasoline and/or more/less demand for gasoline.
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