Learn Gasoline



Gas, petrol, or gasoline is an important global commodity in the UK. It is primarily used as fuel, and is a transparent liquid. Gasoline is required for multiple forms of transportation, including automobiles, motorcycles, trucks, and airplanes. The components of gasoline include benzene and other carcinogenic substances. These can enter the ecosystem through storage tanks, mishandling, spills and leaks.

How is Gasoline Produced?

Gasoline is manufactured by refining crude oil and petroleum. It is a hazardous liquid and is extremely flammable. Gasoline is responsible for the provision of more energy to the world than other commodities.


The world’s primary consumer of gasoline is the United States. Crude oil supplies are centralized in the Persian Gulf (Middle Eastern countries) and throughout Alaska and the Gulf of Mexico.

Taxes on gasoline affect prices, and result in consumers paying more at petrol stations. The price you pay is also dependent upon the province, state or country where you live. If you reside in an oil-producing country like Kuwait, there is no transportation cost involved and you will always pay a cheaper price for gas.

In the event of a natural disaster, refineries can be affected, and this will cause the price of gasoline to spike.

What Factors Impact Gas Prices?

Multiple factors play a part in determining gasoline prices. The price of crude oil makes up 65% of the gas price. Other costs to consider include refinery costs and transportation costs at around 13%, and then transporting the gasoline to a petrol station near you will cost an additional 11%.

It should be remembered that gas prices are also determined by the grade of gasoline that you’re purchasing. The higher the octane fuel, the higher the price. There are several different types of grades including regular, midgrade, and premium. Fuels that have higher octane levels are less explosive when compressed. This is important for high-performance engines

Retail Cost Considerations for Gasoline

  • Crude Oil Costs cover many additional costs such as the location of the drilling platforms, the salaries paid to workers, insurance-related costs, benefit payable, overheads, equipment costs, etc.

  • Taxation – the price of gasoline is heavily impacted by municipal government tax, local tax, and sales tax. Many countries impose a fuel tax on transportation fuel. This is how government derives revenue for its needs. Gasoline prices will differ from country to country based on tax considerations.

  • Gasoline Networks – these include the shipment method for gasoline (pipelines, railways, trucks, or oil tankers) supplies. Various retail locations are independently owned, or owned by refineries. Travel times and distance will affect the price of gasoline.

  • Refinery Costs – when crude oil is converted into gasoline, costs are incurred. These costs are dependent upon multiple factors, including the type of gasoline that is being manufactured, and the type of crude oil used. Variations between states and seasons are entirely possible. The operations of specific refineries will also affect prices. Gulf of Mexico refineries are often out of commission during the summer months, owing to hurricane activity. This will push prices higher.

Where is Gasoline traded?

All gasoline futures are dealt with in the Nymex (New York Mercantile Exchange).

  • All gasoline futures are dealt with in the Nymex (New York Mercantile Exchange).

  • The trading hours run from 11 PM through 9:59 PM

  • The MetaTrader symbol is GASOLINE

  • The margin requirement is 2 percent

  • Gasoline can be traded in increments of 0.0001

  • The minimum trade size for gasoline is 1,000

Open an Account With An Irish Regulated Broker



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