ANSWERS: 3
  • Because that's how they are traded wholesale.
  • so do your maths, there are 42 gallons to a barrel.
  • Crude oil is never sold retail, only the products obtained through the refining process (which varies in price - i.e. expensive gasoline, not so expensive kerosene and rather inexpensive asphalt). Therefore, it is traded in wholesale quantities, which are always larger than retail ones.

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