Editing Petroleum (section)

=== Transport ===
{{excerpt|Petroleum transport}}
In the 1950s, shipping costs made up 33 percent of the price of oil transported from the [[Persian Gulf]] to the United States,<ref name="economist.com">{{Cite news |date=July 14, 2012 |title=A liquid market: Thanks to LNG, spare gas can now be sold the world over |newspaper=The Economist |url=http://www.economist.com/node/21558456 |url-status=live |access-date=January 6, 2013 |archive-url=https://web.archive.org/web/20140614054033/http://www.economist.com/node/21558456 |archive-date=June 14, 2014}}</ref> but due to the development of [[supertankers]] in the 1970s, the cost of shipping dropped to only 5 percent of the price of Persian oil in the US.<ref name="economist.com" /> Due to the increase in the value of crude oil during the last 30 years, the share of the shipping cost on the final cost of the delivered commodity was less than 3% in 2010.