In the 1950s, shipping costs made up 33 percent of the price of oil transported from the Persian Gulf to the United States, 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. 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.