The Detroit News have posted a very good article, explaining all of the details it takes to make up the current price of gasoline. "The biggest factor in the skyrocketing price of gasoline is the historic ascent of crude oil, which has surged from $45 per barrel in 2004 to more than $135 this past week, setting new record highs all the while". The article also highlights a mix of complex factors, including the cost of converting cruise oil into gasoline itself, state and local taxes, market costs, and competition between gas station owners. The United States dollar has also forced higher prices, and "the weaker the dollar gets, the more attractive dollar-denominated oil contracts are to foreign investors". Click here to read all of the details from the article.