It may seem surprising that power producers are still burning oil to generate electricity, and yet they do. Once again, it’s a case of economics - existing oil/petroleum power plants are a sunk cost, so you might as well use then when you need them. And if you're looking for positives, at least oil is cleaner burning and more convenient than coal. With volatile prices swinging from lows around $10/barrel to highs in the $30/barrel range, electricity producers try to reduce their reliance on oil. But until they do, it will remain an important fuel.

Let’s look at Gasoline/Diesel.