From Deseret News archives:

What has gas really cost Utahns?

Published: Friday, Aug. 26, 2005 10:47 a.m. MDT
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The Morning News figured the cost of higher gas prices in Utah since January 2000 by looking at data compiled by the U.S. Energy Information Administration. (The EIA does not include prices for diesel, so it was excluded from analysis.)

The Morning News compared how much was actually spent by Utahns each month on all gasoline to how much it would have cost at January 2000 prices. It then totaled the extra costs for all those months, which was $1.61 billion.

For example, in the baseline month of January 2000, unleaded regular cost an average $1.28 a gallon; mid-grade cost $1.37; and premium cost $1.45.

In May 2005, the last month for which EIA data was available, prices had risen to an average $2.21 a gallon for regular; $2.32 for mid-grade; and $2.38 for premium. In May 2005, 72.2 million gallons of regular were sold in Utah along with 7.3 million gallons of mid-grade and 12.2 million gallons of premium. It all cost Utahns about $206.5 million. But at January 2000 prices, it would have cost them about $120.1 million — a difference of about $86.4 million.

Of course, prices have gone up even more since May.

American Automobile Association surveys showed the average price per gallon for regular unleaded, as of Tuesday, was at an all-time high of $2.47 in Utah.

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The EIA notes that of the price paid at the pump, roughly 44 percent comes from the cost of crude oil; 15 percent from refining costs and profits; 14 percent for distribution and marketing costs; and 27 percent from federal and state taxes.


E-mail: lee@desnews.com

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