If the total income generated from gasoline for AER was $408 million how much would be the cost for a barrel of gasoline, gasoline 34% kerosene 14% 60 million barrels total production crude oil
Question
Answer:
The problem statement appears to be trying to tell you that 60 million barrels of crude were processed, resulting in 34% of that volume being turned into gasoline, which was then sold for a total of $408 million. You are asked for the revenue associated with 1 barrel of gasoline.($408Β·10^6)/(60Β·10^6 bbl Γ 0.34) = $408/(20.4 bbl) = $20/bbl
The income from one barrel of gasoline is $20.00.
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