How Much Do You Know About Gas Prices?

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How Much Do You Know About Gas Prices? - Quiz

You know one thing: gas prices are rising quickly -- and that's not good! But how much do you know about the details behind the numbers? Take our quiz to find out how much you know!


Questions and Answers
  • 1. 

    How much do you pay in taxes per gallon of gasoline?

    • A.

      2%

    • B.

      7%

    • C.

      12%

    • D.

      20%

    Correct Answer
    C. 12%
    Explanation
    The correct answer is 12% because it is the only option that falls within the range of typical gasoline tax rates. Gasoline taxes vary by state and country, but on average, they tend to range from 10% to 20% of the price per gallon. Therefore, 12% is a reasonable estimate for the amount paid in taxes per gallon of gasoline.

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  • 2. 

    Which country is the biggest supplier of crude oil to the United States?

    • A.

      Canada

    • B.

      Mexico

    • C.

      Saudi Arabia

    • D.

      Venezuela

    Correct Answer
    A. Canada
    Explanation
    Canada is the biggest supplier of crude oil to the United States. This is because Canada has vast oil reserves and is geographically close to the United States, making it convenient for oil transportation. The two countries have a strong trade relationship, and Canada's oil production is able to meet a significant portion of the United States' oil demand. Additionally, Canada's oil is considered more reliable and secure compared to other countries, which further strengthens its position as the top supplier to the United States.

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  • 3. 

     How many barrels of recoverable oil are located in the United States?

    • A.

      20 billion

    • B.

      104 billion

    • C.

      786 billion

    • D.

      1,442 billion

    Correct Answer
    D. 1,442 billion
    Explanation
    The answer 1,442 billion suggests that there are 1,442 billion barrels of recoverable oil located in the United States.

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  • 4. 

    Which of these actions have occurred under the Obama administration?

    • A.

      Cancelled lease sales in the Western Gulf of Mexico, the Atlantic coast and delayed exploration off the coast of Alaska and kept other resource-rich areas off-limits.

    • B.

      Finalized rules to establish more government hurdles to onshore oil and natural gas production on federal lands.

    • C.

      Withdrew 61 oil and natural gas leases in Montana as part of a lawsuit settlement over climate change.

    • D.

      All of the above.

    Correct Answer
    D. All of the above.
    Explanation
    All of the actions mentioned in the options have occurred under the Obama administration. The lease sales in the Western Gulf of Mexico and the Atlantic coast were cancelled, along with the delayed exploration off the coast of Alaska and keeping other resource-rich areas off-limits. Additionally, rules were finalized to establish more government hurdles for onshore oil and natural gas production on federal lands. Furthermore, 61 oil and natural gas leases in Montana were withdrawn as part of a lawsuit settlement over climate change. Therefore, the correct answer is "All of the above."

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  • 5. 

    What is the highest-producing oil state in America?

    • A.

      Alaska

    • B.

      California

    • C.

      Louisiana

    • D.

      Texas

    Correct Answer
    D. Texas
    Explanation
    Texas is the highest-producing oil state in America due to its vast reserves and extensive drilling operations. It has a long history in the oil industry and is home to major oil companies and refineries. The state's geology and favorable business environment have contributed to its dominance in oil production. Texas also benefits from advanced drilling technologies and infrastructure, allowing for efficient extraction and transportation of oil. With its significant reserves and continuous exploration, Texas remains at the forefront of oil production in the United States.

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  • 6. 

    What percentage of total U.S. crude oil production comes from the Gulf of Mexico?

    • A.

      1%

    • B.

      7%

    • C.

      30%

    • D.

      86%

    Correct Answer
    C. 30%
    Explanation
    Approximately 30% of total U.S. crude oil production comes from the Gulf of Mexico. The Gulf of Mexico is a significant region for oil production due to its abundant offshore oil reserves and the presence of major oil fields. The region is home to numerous oil rigs and platforms that extract oil from beneath the ocean floor. This high level of production contributes significantly to the overall crude oil production in the United States.

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  • 7. 

    What state has the highest gasoline tax?

    • A.

      California

    • B.

      Connecticut

    • C.

      Michigan

    • D.

      New York

    Correct Answer
    A. California
    Explanation
    California has the highest gasoline tax among the given options. This is because California imposes high taxes on gasoline in order to fund various transportation projects and reduce carbon emissions. The state also has strict environmental regulations that contribute to higher fuel costs. As a result, California has consistently had some of the highest gas prices in the country.

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  • 8. 

    What is the unemployment rate in North Dakota, which is experiencing a boom in energy production?

    • A.

      3.2%

    • B.

      5.7%

    • C.

      8.3%

    • D.

      9.8%

    Correct Answer
    A. 3.2%
    Explanation
    The correct answer is 3.2%. This indicates that the unemployment rate in North Dakota, despite experiencing a boom in energy production, is relatively low. This could be attributed to the increased job opportunities created by the energy sector, leading to a decrease in unemployment.

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  • 9. 

    What is the mean hourly wage for workers in the oil and gas industry?

    • A.

      $7.25

    • B.

      $11.75

    • C.

      $24.49

    • D.

      $37.22

    Correct Answer
    D. $37.22
    Explanation
    The mean hourly wage for workers in the oil and gas industry is $37.22. This means that, on average, workers in this industry earn $37.22 per hour.

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  • 10. 

    How much oil would the Keystone XL pipeline deliver to North American refining markets?

    • A.

      20,000 barrels a day

    • B.

      179,000 barrels a day

    • C.

      590,000 barrels a day

    • D.

      830,000 barrels a day

    Correct Answer
    C. 590,000 barrels a day
    Explanation
    The Keystone XL pipeline would deliver 590,000 barrels a day to North American refining markets.

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