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Friday, October 23, 2026Updated 15:22 UTC

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The Hidden $40-Per-Barrel Cost Driving Oil Prices Higher

Source: OilPrice.com · Oct 23, 2026 14:00 UTC

Aerial view of refinery storage tanks near Houston on the Gulf coast — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

When Americans think about the price of oil, they usually focus on the number quoted every day in financial markets. If Brent crude is trading above $100 a barrel or West Texas Intermediate is near $100, those numbers become shorthand for whether oil is expensive or cheap. But that market price is only part of what ultimately determines the cost of getting crude oil to a refinery. But transportati

Read the full story at OilPrice.com

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