Featured image for a fuel knowledge quiz showing a gasoline pump labeled gasoline and diesel, a clipboard with a multiple-choice quiz, a barrel labeled crude oil, a laboratory flask containing petroleum product, and a large oil refinery in the background. Icons across the bottom illustrate crude oil production, refining, gasoline and diesel fuels, ethanol, taxes, and gas station profits. The image invites readers to test their knowledge of crude oil, fuel refining, gasoline and diesel prices, ethanol blending, taxes, and the economics of the fuel industry.

Most Americans purchase gasoline every week, but surprisingly few understand how crude oil becomes gasoline and diesel, what drives fuel prices, or why prices sometimes move in unexpected ways.

This short quiz tests your knowledge of the fuel industry and some of the concepts discussed in our article about the price of gasoline and diesel.

Don’t worry if you miss a few questions. Some of the answers surprise even experienced drivers.

If you missed our article on this topic, you can find it using the button below, its a must read if you are interested in knowing more about pricing and markets for gasoline.

How Much Do You Know About Gasoline Prices

Good luck!

How Much Do You Really Know About Gasoline, Diesel, and Crude Oil?

Test your knowledge of crude oil, refining, gasoline, diesel, ethanol, fuel prices, and service station economics.

1. A standard barrel of crude oil contains how many gallons?




2. Approximately how many gallons of finished petroleum products can be produced from a 42-gallon barrel of crude oil?




3. What is the largest single component of the retail price of gasoline?




4. Gas stations typically make most of their profits from gasoline sales.


5. Which fuel primarily powers the movement of goods throughout the economy?




6. Approximately what percentage of most gasoline sold in the United States is ethanol?




7. A $1 change in crude oil prices affects the raw crude oil cost of gasoline by approximately:




8. Which event can increase gasoline prices even if crude oil prices remain unchanged?




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