How much is one barrel of crude oil worth
At today’s prices, if you were to buy one barrel of crude oil it would cost you about $100 dollars. One barrel is equal to 42 US gallons, which is just shy of 159 litres. Here is everything that can be made from just one barrel of oil: Enough gasoline to drive a medium-sized car over 450km (280 miles). Enough distillate fuel to drive a large truck for almost 65km (40 miles). If jet fuel fraction is included, that same truck can run nearly 80km Still, that gallon of gasoline might be worth $20 to you if the alternative is to bike that distance. That equates to an oil price of over $800 a barrel. (As a raw material for the chemical and plastics industries, we might come up with a value even higher than $800 a barrel).