Breakdown of Gas Prices

The local gas station is the first place to find higher gas prices but AAA Wisconsin considers it one of the last places to find a good reason for the hike.

Here's the breakdown.

AAA says state and federal taxes in Wisconsin account for 23 percent of the price of gas.

Distribution costs, which include retailer profit, make up nine percent.

Refining costs and profits for oil companies make up about eight percent.

Finally, crude oil accounts for the biggest chunk of the pie at 60 percent. Ernie Stetenfeld of AAA Wisconsin says, “If you look at what crude oil cost in 2003, when it accounted for 44 percent of the costs of gas, it was about $28.50 per barrel. Now it's double roughly.

Wisconsin's statewide average is now $2.19. AAA says Madison's average is usually than that.

NBC15 615 Forward Drive Madison, Wisconsin 53711 Business: 608-274-1515 Newsroom: 608-274-1500
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 1399717 -
Gray Television, Inc.