Gasoline or "petrol" is a transparent, petroleum-derived liquid that is used primarily as a fuel in internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. Some gasolines also contain ethanol as an alternative fuel. In North America, the term gasoline is often shortened in colloquial usage to gas.
In North America, the term gasoline is often shortened in colloquial usage to gas.
Elsewhere petrol is the common name in the United Kingdom, Republic of Ireland, India, Australia and in most of the other Commonwealth countries.
The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide, the trade prices are similar. The price paid by consumers largely reflects national pricing policy. Some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabiaand Venezuela, subsidize the cost. Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011.
Most of the petroleum consumed in the transportation sector is motor gasoline. In 1950 it was 71% of total sector petroleum consumption, and in recent years, despite the increase in aviation fuel and diesel, it has been about 65%. Since 1950, gasoline consumption has almost quadrupled. Like diesel fuel, gasoline consumption fell after the economic decline in the summer of 2008.
Gas prices are among the most publicly scrutinized prices in many countries, including the United States. Consumers spend large amounts of money on gasoline and hence fluctuation of the gas price has a significant influence on disposable incomes.
The retail price of gasoline is influenced by various factors, the most important ones being the price of crude oil and the local tax regime. The statistic shows that in 1995 the United States, one gallon of regular gasoline cost 1.11 U.S. dollars. Ten years later, in 2005, one gallon of regular gasoline cost 2.27 U.S. dollars.
The statistic also shows gasoline prices around the world as of January 18, 2013 at around 7.96 U.S. dollars per gallon, prices in Germany were lower than in the United Kingdom, but considerably higher than in the United States. According to the source, gas prices were measured between January 3 and 18, 2013.