Wine Boxes to Petrol Rates

This was iginally published in Feb 2026 edition of Yaksha Prashna magazine. Know more

You must have heard about petrol prices going up on the news of war between the US, Israel, and Iran. But did you ever wonder how those prices are written? Next time you see a newspaper, check the crude oil price; it probably says something like "$67/bbl." Let's find out what that actually means!

What Does It Mean?

When you see "$67/bbl," it means that 158.99 litres of crude oil, the raw material used to make petrol, costs 67 US dollars. Now you might ask: why such a strange number like 158.99 litres? And what is "bbl"? The answer takes us back in time!

Why 158.99 Litres?

Back in 15th century England, a company made wooden boxes called barrels to carry goods like wine and fish on ships. They chose a size of 158.99 litres, or 42 gallons, simply because two workers could easily lift and carry it while loading ships. This size was so useful that King Richard III made it the official standard, and slowly the whole world started using it.

The Petrol Connection

When oil was first discovered in 1859 in the USA, traders needed a quick way to transport it. They simply used the same 42-gallon barrels that already existed. A powerful company called Standard Oil painted their oil barrels blue, and soon all oil barrels were blue. That is why oil is measured in “bbl”, short for Blue Barrel even today, when oil travels through giant pipes and tankers!

Next time someone mentions oil prices, you'll know there's a 500-year-old wooden barrel hiding behind those numbers!

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