A Barrel of Oil Price Conversion

What is the price in dollars per gallon if oil is on the market at $94.0 per barrel?

The price of oil per gallon, given oil costs $94.0 per market barrel, is approximately $2.24.

Unit Conversion Explanation

Unit conversion is the process of changing from one unit to another. In this case, we are converting the price of oil from per barrel to per gallon.

To begin with, a barrel of oil on the market is equal to 1.333 U.S. barrels. Meanwhile, a U.S. barrel is equivalent to 31.5 gallons. Therefore, we can calculate that one market barrel is equal to 1.333 * 31.5 gallons.

If the cost of oil is $94.0 per barrel, we can find the price per gallon by dividing the price per barrel by the number of gallons in a barrel. This calculation gives us an approximate price of $2.24 per gallon for oil in this scenario.
← Investigating destination marketing organization strategies in montana Unintended consequence of ford s employee patent incentive award program →

More Posts: