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Supply and demand are well-known to be the main forces behind the price of gasoline. However, there are many factors that contribute to supply and demand in order to complete the pricing story.
For example, the price of crude oil, which is the largest single factor in the price of gasoline, is set on the open market and influenced by factors such as economic conditions, disruptive weather, political legislation, national demand and more. All these can potentially impact the availability of supply and the price of crude oil on the market. This is only one of many factors influencing the price of gasoline.
Shell recognizes consumer concern over gasoline prices and is working to address it by developing new technologies and identifying new sources of oil such as the oil sands in Canada. But even with improvements in efficiency, technology and alternative fuels, the world's supply and demand balance will remain tight over time as more nations seek the oil they need to sustain their domestic growth.
Thus, Shell is focusing on leveraging a strong, wide-ranging energy portfolio with various fuels to meet the challenge of providing more energy in a secure and responsible way.
In addition to reading further to understand what goes into the price at the pump, there are steps you can take today to get the most out of every purchase. Our FuelStretch site provides tips on optimizing fuel efficiency, a gasoline rebate credit card to help stretch your fuel budget, an electronic check card that provides rebates at the pump and information about high-quality gasoline designed to keep critical engine parts clean.
A few things Shell is doing to continue delivering reliable energy supplies while working to keep down the cost of gasoline at the pump are: