My Image


Fuel prices affect us all. Whether you drive for a living or hardly at all, the price of gasoline can significantly affect our family budget, vacation plans or corporate fleet costs . Gasoline is a commodity like any other and is subject to the same basic economic principles - supply and demand. Utah, unlike many states, has both oil production as well as refining capacity within the State. Utah’s five petroleum refineries depend on crude oil supplies from Utah as well as surrounding intermountain states. Our local refineries manufacture roughly the equivalent of Utah’s overall gasoline needs, but the market for gasoline is more complex than that. We both import and export a significant amount of fuel through the State. Fuel is imported from refineries in Wyoming and Montana and also exported to Idaho, Washington, Nevada and other surrounding states.

Several factors play into the retail price of gasoline, but the single largest factor is the price of crude oil. Transportation costs, refining costs, marketing costs, profits and taxes are also key cost components.

My Image

What is a Petroleum Marketer?

A petroleum marketer is any person or company that takes possession of refined petroleum products for the purpose of reselling those products. This broad definition of a petroleum marketer encompasses a wide range of commercial businesses from wholesale to retail operations.
My Image

Who Owns Your Local Gas Station?

Many people wonder if major oil companies own most gas stations. The answer is no. Major integrated oil companies own about 2% of the 152,995 retail stations nationwide and operate about a third of the retail stations that they do own.

Presented by CME Group

Gas Prices Mirror Oil Prices

Changes in gasoline and diesel prices mirror changes in crude oil prices. Those changes are determined in the global crude oil market by the worldwide demand for and supply of crude oil.

Crude oil prices are set globally through the daily interactions of thousands of buyers and sellers in both physical and futures markets, and re ect participants’ knowledge and expectations of demand and supply.

In addition to economic growth and geopolitical risks, other factors, including weather events, inventories, exchange rates, investments, spare capacity, OPEC production decisions, and non-OPEC supply growth all gure into the price of crude oil.
My Image
My Image
My Image

Utah's Motor Fuel Tax

Lorem ipsum dolor sit amet, sapien platea morbi dolor lacus nunc, nunc ullamcorper. Felis aliquet egestas vitae, nibh ante quis quis dolor sed mauris. Erat lectus sem ut lobortis, adipiscing ligula eleifend, sodales fringilla mattis dui nullam. Ac massa aliquet.

  • As of 2015, Utah ranks 11th nationally in oil production and 12th among states in natural gas production.
  • There are currently 141 operating refineries in the United States with 5 located in Utah. Utah refineries produced over 36 million barrels (1.5 billion gallons) of motor gasoline in 2015 and over 19 million barrels (798 million gallons) of distillate fuel (diesel).
  • Well completions in Utah (both oil and gas) have declined dramatically over recent years as commodity prices plummeted and have stayed low. There were 1243 completions in 2008, 925 in 2014 and only 305 in 2015.
  • Duchesne (46%), Uintah (34%) and San Juan (12%) Counties accounted for 92% of oil production in Utah in 2015. The balance was produced collectively from Sevier, Grand, Summit, Carbon and Emery Counties.
  • The ratio of oil wells drilled in Utah versus natural gas wells has shifted significantly over recent years as commodity prices have affected company's drilling programs. In 2008, only 28% of wells drilled were for oil while in 2014, 76% of all wells drilled were primarily seeking oil.
  • Wages for energy-related jobs are nearly double the average annual wage for all employment in Utah.
  • In 2015 petroleum products and natural gas accounted for 59% of total energy consumed in Utah. Coal was responsible for 38% while all renewables combined made up 3% of energy use.
  • Utah refineries received record amounts of crude oil in 2014 and only slightly less in 2015, with 43% coming from in-state and 8% coming from Canada.
  • Fossil fuels made up 98% of Utah’s total energy production in 2015, while renewable sources accounted for only 2% of Utah’s production portfolio.
  • Property taxes charged against Utah oil and gas activities have increased more than six times since 1996, totaling nearly $64 million in 2015.
  • The value of crude oil produced in Utah reached an all-time inflation-adjusted high of $3.2 billion in 2014, but then dropped to only $1.5 billion in 2015 as commodity prices sank.
  • Natural gas production in Utah reached a record high in 2012 of 491 billion cubic feet, but has since dropped to 423 billion cubic feet in 2015.
  • Oil and gas operations in Utah account for about 1.3% of the State's gross state product. Utilities (including some non-energy sectors), refineries, and pipeline transportation and maintenance account for an additional 1.9%.
  • The last major refinery built in the United States was put into operation in 1977.
  • Utah’s average price of residential natural gas in 2015 was $9.72 per thousand cubic feet, the 17th lowest in the nation. As recently as 2011, Utah’s price was the third lowest in the nation, but new natural gas pipelines have better connected our once captive market with the rest of the United States.
  • Natural gas is the largest source of annual energy production in Utah, surpassing coal for the first time in 2010.
  • In 2015, 76% of the electricity generated in Utah was from coal-burning power plants. Electricity generation from natural-gas power plants more than doubled since 2007, increasing its total share in 2015 to 19%.
  • Utah produced 18% more energy than it consumed in 2015, continuing its status as a net-energy exporter. This percentage is usually closer to 30%, but production of fossil fuels was significantly down in 2015.
  • Energy-related employment in Utah declined to 15,367 in September of 2015 (down 16% from the 18,236 recorded in October 2014 prior to the oil price crash), of which the majority (30%) came from the oil and gas sector.
  • Average yearly wages in the energy sector ($83,400, first three quarters of 2015) are more than double the statewide average annual wage ($41,500, first three quarters of 2015).

UPA's voice is strengthened by companies like yours joining forces with us to work towards maintaining and improving Utah's favorable business climate.

Chairman's Circle

  • Stacks Image p816_n11
    Stacks Image p816_n14
    Stacks Image p816_n17
  • Stacks Image p816_n22
    Stacks Image p816_n25
  • Stacks Image p816_n30
    Stacks Image p816_n33
  • Stacks Image p816_n38
    Stacks Image p816_n41
    Stacks Image p816_n44

Edit Panel Title

Stacks Image p816_n53

Edit Panel Title

Stacks Image p816_n56

Edit Panel Title

Stacks Image p816_n60

Edit Panel Title

Stacks Image p816_n65

Edit Panel Title

Stacks Image p816_n68

Edit Panel Title

Stacks Image p816_n73

Edit Panel Title

Stacks Image p816_n76

Edit Panel Title

Stacks Image p816_n80

Edit Panel Title

Stacks Image p816_n84