eli5: why the current price of gas is much higher than in 2008 when the price of brent barrel was quite higher?
In: 226
Gas prices aren’t that much higher, first off…
But the Federal Gas tax was increased since 2008. States may have also increased gas taxes.
There are other costs besides crude oil, like transportation costs (which are sky high due to supply chain issues, whether cargo/tanker ship, trains, trucks, etc), refining costs, gas station costs like rent and employee wages.
Latest Answers