Question

AER Petrochemicals
Crude Oil Production Breakdown for Last Year
Kerosene: 14%
Lubricating Oil: 5%
Gasoline: 34%
Other Products: 18%
Diesel: 29%
Total production from Crude oil - 60 million barrels
Question 3 of 3
If the total income generated from Gasoline for AER was $408 million, hown
would be the cost for a barrel of gasoline?
$16
$18
$20
$22
$24

Answer 1

Step-by-step explanation:

Given Crude Oil Production Breakdown for Last Year

Kerosene: 14%

Lubricating Oil: 5%

Gasoline: 34%

Other Products: 18%

Diesel: 29%

Total production from Crude oil - 60 million barrel

If the total income generated from Gasoline for AER was $408 million, shown  would be the cost for a barrel of gasoline?

• Given we need to find the cost for a barrel of gasoline.
• Given gasoline is 34%
• According to the question Total production from crude oil is 60 million barrels.
• Therefore 34 % of 60 million will be  
•           34/100 x 60
•          = 20.4 million barrels of gasoline.
• Total income generated from gasoline was $ 408 million.
• So for 20.4 million barrels cost is $408 million.
• Therefore for one gallon of gasoline, cost will be $ 408 / 20.4
•                                                                                   = $20
• Therefore the cost for a barrel of gasoline is $20.

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