Brent Crude Oil Price Per Gallon

Barrel to Gallon Conversion

A standard petroleum barrel contains exactly 42 US gallons. This unit originated in the early Pennsylvania oil fields where whiskey barrels of that size were repurposed for oil storage. The 42-gallon standard was officially adopted in 1872 and remains the industry standard today.

The per-gallon crude price shown here represents the raw commodity cost. US gasoline prices at the pump are typically 2-3 times higher because they include federal and state excise taxes (averaging $0.50/gallon), refining margins, distribution costs, and retailer markup. The benchmark itself is quoted per barrel — see the Brent crude price per barrel and why oil prices change.