I agree. If I buy a gallon of gas that's advertised at $1.499, and the pump charges me $1.50, that's an over charge and false advertising. Gas pump owners are just getting free money that way.
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The Staff of SOH
Gas Prices Part 2 (Nov 08)
- Thread starter Ickie
- Start date
GT182
Charter Member
I didn't mean it that way Tom.... the .001 would be the gas tax raise they want. Not money for the gas pump owners.
I read in the paper here today they're asking for a 50% raise in the gas tax. That's called rape in my book.
BTW.. gas went down to 1.419 last Friday moring and that afternoon it went back up 1.439. This afternoon it went up to 1.459. Looks like the handwriting is on the wall... higher gas prices are coming back.
I read in the paper here today they're asking for a 50% raise in the gas tax. That's called rape in my book.
BTW.. gas went down to 1.419 last Friday moring and that afternoon it went back up 1.439. This afternoon it went up to 1.459. Looks like the handwriting is on the wall... higher gas prices are coming back.
airfighterjohn
Charter Member
Prices per barrel have skyrocketed because of the fighting in Gaza. Supposedly. But, still at $40 a barrel, gas pricesshould not rise as quickly as they have....:bs:
airfighterjohn
Charter Member
Being a manager for one of those stations, GT, I can tell you that we are NOT the ones that are profiting by these increases. State law here in Tennessee says we MUST charge NOT LESS than 5 cents above our cost, and NOT MORE than 29 cents above our cost. Average markup is 10-12 cents per gallon above cost. Most states have similar laws, to prevent gouging or price wars (which happened often in the 60s and 70s). Our distributor is also not reaping any of the profit increases--he is bound by the same law. Now--the major oil companies and OPEC is a different story. They reap windfall profits while we barely get by. Very few stations make profit on their gas. Most profit is from consumer goods sold inside the stores, or from repair services offered. Another group reaping windfall profits are the credit card companies. Visa, for example, charges 12 cents per gallon surcharge on the first 50 gallons purchased on credit. So, when we take a credit card for the average fuel purchase, we actually take a loss. There is legislation in Congress to stop this, and ALL the credit card companies are fighting this tooth and nail. Also, credit card companies charge an interchange fee--often as much as $5 for a single transaction. So if you come into our store and buy a pack of smokes for $3 and pay for it with a credit card, then we take a $2 loss on the sale. Our store now requires a minimum $10 purchase for credit transactions, and, if the proposed legislation is not passed into law, we will stop accepting plastic. Now, let me explain--if, say VISA owns the network we use to run the transactions, then there are no interchange fees, just a 25 cents service fee. BUT--if you run a Mastercard or American Express card on that network, then you must pay the interchange fee. Many store chains now will not accept Credit cards outside their network. For example, Dollar General Stores here will not accept Mastercard here, because their network is set up for VISA.:focus:
B
Big_Stick
Guest
They are rising because of seasonal holiday travel. They're going back down now as far as I can see. Oil is down again.
GT182
Charter Member
Gotcha on that John. I appologise, I didn't mean to say the stations were making out by the increases. 
But the the oil companies are. I just find it odd that the stations are increasing gas prices twice a day. Before this they took several days to lower prices. And I can wait to see what the quarterly profit for the oil compaines will be.
Not sure what's going on around here.... DE and SE PA.... there's a whole bunch of Exxon stations closed We went by at least 5 today that are now closed but were open before the holidays. That makes at least 8 total that are closed here. Even one of the Russian owned stations closed, Luk Oil. Yes, Russians own American gas stations.
But the the oil companies are. I just find it odd that the stations are increasing gas prices twice a day. Before this they took several days to lower prices. And I can wait to see what the quarterly profit for the oil compaines will be. Not sure what's going on around here.... DE and SE PA.... there's a whole bunch of Exxon stations closed We went by at least 5 today that are now closed but were open before the holidays. That makes at least 8 total that are closed here. Even one of the Russian owned stations closed, Luk Oil. Yes, Russians own American gas stations.
airfighterjohn
Charter Member
They were probably a franchise. Exxon own very few stations; less than 10% of all Exxon branded stations are in fact owned by Exxon. The same goes for most stations. Companies like Exxon provide the signage and sometimes the canopies, and you sell their gas for them. An odd point--in February of last year we debranded our gasoline. We were Conoco-Phillips. As a result we are getting our gasoline from the distribtor at 12 cents per gallon less. Ironically, we are selling the VERY SAME GASOLINE, only with no ethanol added. So what's in a name? HIGHER PRICES!!!