A Barrel of Oil Price Conversion
What is the price in dollars per gallon if oil is on the market at $94.0 per barrel?
The price of oil per gallon, given oil costs $94.0 per market barrel, is approximately $2.24.
Unit Conversion Explanation
To begin with, a barrel of oil on the market is equal to 1.333 U.S. barrels. Meanwhile, a U.S. barrel is equivalent to 31.5 gallons. Therefore, we can calculate that one market barrel is equal to 1.333 * 31.5 gallons.
If the cost of oil is $94.0 per barrel, we can find the price per gallon by dividing the price per barrel by the number of gallons in a barrel. This calculation gives us an approximate price of $2.24 per gallon for oil in this scenario.