How crude oil price affects gas prices
Crude oil accounts for roughly 50–60% of the final retail gasoline price. The rest is refining costs (10–15%), distribution and marketing (10–15%), and taxes (15–25%). When crude oil rises by $10 per barrel, retail gasoline prices typically rise by about 23–25 cents per gallon — but the relationship isn't immediate. Retail prices typically follow crude moves with a 2–6 week lag.
Tracking crude prices in the app gives you a leading indicator for where pump prices are likely to go in the coming weeks.