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The figure below shows how the shares of component costs have changed for a gallon of regular gasoline over the ten-year period from September 2003 to September 2013. In 2003, crude oil accounted for 38.3% of the retail price of a gallon of regular gasoline. By 2013, the share for crude oil nearly doubled to 70.8% of the price. While the share for crude oil grew, the shares for taxes, distribution and marketing, and refining decreased proportionally. In 2003, taxes accounted for 25% of the price of regular gasoline but by 2013, taxes accounted for just 11.9% of the price.
Price Components of a Gallon of Gasoline, September 2003 vs. September 2013
|Taxes||Crude Oil||Retail Price|
|Share of a Gallon of Regular Gasoline||Dollars per Gallon|
|Source: Energy Information Administration, Gasoline Pump Components History, November 2013.|