There are different brands of gasoline, and different formulations, but they all make your car go. In my opinion, it doesn't make any difference what gasoline you use, they are all pretty much the same.

If you've never tried cheap gas before, now is the perfect time! Cast a vote for cheaper gas by buying the cheapest gas you can find.

I know your car's engine is valuable. If you have problems with the gasoline from a station in Sacramento, please contact me immediately.

High octane fuels are not better than low octane fuels. They are formulated to help stop pinging. 

In the 1920s, the Ethyl company began marketing a gasoline that would help cars stop knocking and pinging. Ever since then, gas stations have been offering this variety of fuel. However, 80 years of motor engineering have pretty much eliminated this problem from production vehicles.

The only cars I've heard about having a pinging problem are the 1975 Dodge Swinger 318, the 1998 Dodge Club Cab Dakota and the 1991 Ford Ranger. 

Source: Indiana Observer Article.

The Federal Trade Commission article on high-octane fuel.

A million opinions on high-octane fuel from epinions.com.

 

One concern about cheap gasoline is that it might be "watered down". I don't think this is possible.

Gasoline doesn't mix with water. The very first car that tried to run on this would stall immediately and become a big problem for the gas station operator.

Gas stations could mix something else into the underground gas tanks, but what? Lighter fluid? Olive oil? Nearly every liquid on earth costs more than gasoline. It wouldn't make sense.

Prices of other liquids

Gasoline Taxes (a combination of state and federal taxes): 51.9 cents per gallon These taxes have been in place since 1995.

As for the crude oil, I found this information at discover.com:

A typical fuel refinery will obtain 19 gallons of gasoline from each 42 gallon barrel of crude. The amount of other products obtained from crude oil depends on the same factors. In addition to gasoline, crude petroleum is used to make petroleum gases (methane, propane), solvents (naphtha, toluene, etc.), fuel oils (diesel, home heating oil), lubricating oils (motor oil), specialty lubricating oils (baby oil), petrolatums (Vaseline), waxes (candle wax), asphalt (road paving). Everything in a barrel of oil is used; nothing goes to waste. 

 

The price of gasoline and crude oil are definitely connected, but there is flexibility in the connection. 

On March 20, 2003, you could buy wholesale gasoline at 93 cents a gallon and oil (light, sweet crude) at $29.36 a barrel (for delivery in the future)

Wholesale unleaded gasoline for delivery in May was 93.35 cents a gallon at the close of trading Wednesday in New York, down from the recent high of $1.1633 March 10, according to Beutel's records. . . .West Texas Intermediate, also known as light, sweet crude, was $29.36 a barrel for delivery in May.

source: USA Today

 

More information on gasoline:

The USA uses 9 million barrels of oil per day for transportation (ABC news television) 

A gallon of gas contains about 60 kilowatt-hours of chemical energy (only about 25% of the chemical energy can be turned into mechanical power, and the rest is wasted as heat). This is an awesome amount of energy packed into this small package. Compare the energy density of gasoline (14.0 Kilowatt-hours per kilogram) to the energy density of Lithium Ion batteries (.16 Kilowatt-hours per kilogram).

source: University of Oregon

 

More information on gasoline in California
I know that gas stations pay for the gasoline that they sell. They pay a price for this gasoline and they try to sell it for more than they paid. They try to sell it for as much as possible, so that they can make as much money as possible. Gasoline in Sacramento was $1.39 when I wrote "the price of a gallon" in December 2002. Now it is about $2.09 per gallon. An increase of 66% Graph of the price of gas in Los Angeles over the last 3 months: gasbuddy.com http://www.californiagasprices.com/retail_price_chart.asp?city1=LosAngeles&city2=ZZ&city3=ZZ&period=3&unit=US+%24%2FG&num=2 in 1999, California Attorney General Bill Lockyear gave three reasons for the high price on gasoline: 1)Lack of competition. 2)The state's requirement for cleaner-burning gasoline. 3)Taxes. The Price of Gasoline: Crude Oil: 43% Taxes: 28% Distribution & Marketing: 9% Refining cost & Profits: 20% Source: U.S. Department of Energy California High octane fuels are not better than low octane fuels. They are formulated to help stop pinging. http://www.indianaobserver.com/2002/09/octane.html A million opinions on high-octane fuel http://www.epinions.com/auto-Topics-7/pp_~2 A typical fuel refinery will obtain 19 gallons of gasoline from each 42 gallon barrel of crude. The amount of other products obtained from crude oil depends on the same factors. In addition to gasoline, crude petroleum is used to make petroleum gases (methane, propane), solvents (naphtha, toluene, etc.), fuel oils (diesel, home heating oil), lubricating oils (motor oil), specialty lubricating oils (baby oil), petrolatums (Vaseline), waxes (candle wax), asphalt (road paving). Everything in a barrel of oil is used; nothing goes to waste. http://www.discover.com/ask/main34.html Also: According to the DOE, all the stuff in one barrel of crude would produce 19.5 gallons of gasoline; 9.2 gallons of diesel or heating oil; 4.1 gallons of jet fuel; 2.3 gallons residual fuel oil; 1.9 gallons of still gas, whatever those things are; 1.9 gallons of liquefied refinery gases; 1.8 gallons of coke; 1.3 gallons of asphalt; 1.2 gallons of petrochemical feedstock; 0.5 gallon of lubricants; 0.2 gallon of kerosene; and 0.3 gallon of "other." http://www.azcentral.com/news/columns/articles/0305clay05.html Wholesale unleaded gasoline for delivery in May was 93.35 cents a gallon at the close of trading Wednesday in New York, down from the recent high of $1.1633 March 10, according to Beutel's records. . . .West Texas Intermediate, also known as light, sweet crude, was $29.36 a barrel for delivery in May. http://www.usatoday.com/money/industries/energy/2003-03-19-gasprices_x.htm So at this one point in time. On March 20, 2003, you could buy wholesale gasoline at 93 cents a gallon or light, sweet crude at $29.36 a barrel (for delivery in the future) Wholesale jet fuel, rose from about 72 cents a gallon to a dollar. usa uses 9 million barrels of oil per day for transportation (abc news television) kilowatt-hours in a gallon of gas First the chemical energy must be turned into mechanical power by the engine of the car. Car engines don't do this very efficiently -- only about 25% of the chemical energy can be turned into mechanical power, and the rest is wasted as heat. After the engine gets done with our gallon of gas we have 15 kilowatt-hours left. A gallon of gas contains about 60 kilowatt-hours of chemical energy. 1 kWh represents 3,600,000 joules Energy Density of Gasoline: 14.0 Kilowatt-hours/kilogram Energy Density of Lead Acid Batteries: 0.04 Kilowatt-hours/kilogram http://zebu.uoregon.edu/1996/ph162/l10.html Energy Density of Lithium Ion Batteries: 0.16 Kilowatt-hours/kilogram http://www.blacklightpower.com/battery.shtml