PETROLEUM.—The tables giving the prices of petroleum show first the price per gallon of petroleum refined for export, the price per gallon of the crude oil used as raw material, and the difference between the refined and the crude oil per gallon for each month of the years 1866 to 1899. In the prices for refined oil is included that of the barrel in which it is ordinarily sold; the prices of the crude oil represent prices per gallon without including the package. Prices of crude oil, when quoted by the barrel, ordinarily exclude the package, those of refined oil include it, so that these tables are made up in accordance with the usual custom of quotation, but in both cases are reduced to gallons. The margin between the price of the crude and the refined shown in the table represents the price of the barrel plus the cost of refining and the profit. It should be borne in mind that the export oil is not of quite so high a grade as the standard oil used for consumption in the United States, as represented in the tables showing prices of standard white illuminating oil at Chicago, Cincinnati, and New York. The table of monthly prices is followed by the table of relative prices. MONTHLY PRICES OF REFINED EXPORT OIL AND THE MATERIAL ENTERING INTO ITS MANUFACTURE, 1866 TO 1899. [The prices shown are from the Report of the Industrial Commission on Trusts and Industrial Combinations, Part I, pp. 48, 49, and 50. The package is included in the price for refined oil, but is not included in the price for crude oil. The combination controlling 82.3 per cent of this product was organized in 1882.] MONTHLY PRICES OF REFINED EXPORT OIL AND THE MATERIAL ENTERING INTO ITS MANUFACTURE, 1866 TO 1899-Continued. MONTHLY PRICES OF REFINED EXPORT OIL AND THE MATERIAL ENTERING INTO ITS MANUFACTURE, 1866 TO 1899-Continued. |