Ok, so 10¢ is only the wholesale price of a barrel of oil right now — specifically, something called “West Texas Intermediate crude” (“WTI”) — not the retail price (at the pump).

And refining and transporting oil isn’t free.

But, given that there are 31 recoverable gallons in a barrel, that translates to something like .03¢(!!) a gallon before adding shipping and refining costs.

“WTI?” More Like, “WTF?!?”

All of which means that the cost to fill the 18 gallon tank in my family’s minivan would theoretically be 54¢(!).

Of all the shocking, pandemic-related economic developments the last two months, this one ranks near the top (bottom??) . . .

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply