Support our non-partisan non-profit newsroom 💜 Donate now

Breaking down the price of oil

Jenny Ament Sep 3, 2015
HTML EMBED:
COPY

Breaking down the price of oil

Jenny Ament Sep 3, 2015
HTML EMBED:
COPY

The price of gas impacts many of us, and Labor Day weekend prices are the lowest they’ve been in 11 years. The thing is, about 80 percent of the price of gas depends on the price of oil.

Oil prices are not as easy to calculate as you might think. This week, oil bounced around near $44 a barrel. What does that mean, and how is it determined? To understand how that price gets set, Lizzie O’Leary speaks to Scott Tong from Marketplace’s Sustainability desk. 

Listen to the interview in the audio player above.

 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.