Gas prices revisited.

meagain · 2021-10-06T21:19:50+00:00

Ours went up 10 cents last week and another 10 cents this week. Now $3.55 a gallon. Thanks _ _ _! Come on man, this is getting ridiculous!

Par4QC

sdandrea1 Jezz Steve, do you have a handbook that you sell? This is great stuff. I got other issues also, unless it only covers gasoline.
🤔😁

sdandrea1

Par4QC Jezz Steve, do you have a handbook that you sell?

I actually wrote a book. "How to line up your 4th putt". Never sold well.

colej

sdandrea1

You’re almost like Red Green, with the helpful tips!

Par4QC

colej I miss that guy! Used to watch him every time he was on. 😅

Par4QC

sdandrea1 Obviously, to a lot of people reading this, that makes no sense.
Should have been #1 for weeks!!

sdandrea1

Par4QC

SVonhof

$6.25 at Costco for premium last night.

SVonhof

DonM
Any insight as to how much "profit" a gas station makes on a gallon of gas?

The reason I ask is because of Biden asking them to lower their profit margin:

raggmann54

SVonhof
After credit fees they earn $.03/gal. or roughly 1.4%, if they are lucky. The Sheetz's and Wawa's of the world might make less or actually lose money just so they can get people into their stores. For anyone to say to the Station Owner to lower your price/gal. is just too stupid and pandering to stupid people.

DonM

SVonhof I can only make assumptions theses days. It’s probably safe to say that a typical gross margin (selling price minus cost of fuel and taxes) would be 20 cents or less. Credit card fees are say 3 percent, and they eat into the margins. At these prices they gobble up the whole margin. Maybe JB should be asking the credit card companies to cut their fees charged to gas stations, lol!

So I doubt there’s room at the moment for stations to cut prices. But at some point their margins will improve. The street price will probably remain higher longer so they can get back to square.

Par4QC

raggmann54 I can remember as far back as into the 60's/early '70s, station owners telling me this same figure. And they had no 'convenience' store attachments. Must have lived off cigarette and motor oil profits. Unless they did mechanic work/sold tires; which most stations did.

There was something like 6 gas stations in my little hometown of 2500 back then. Must have had great credit at the banks, in order to live.

raggmann54 just too stupid and pandering to stupid people.

Well, it is a sitting U.S. President. Party matters not.

LBlack14

Par4QC don't forget playboy and penthouse. I don't believe those numbers, at all.

raggmann54

Par4QC
A friend and also my "go-to" mechanic used to have a "Full Service Station" in the old days. He had a person who did the Gas-pump, check-the oil, wash the windows stuff. Told me that he lost $.07/gal of gas to the cost of wages, benefits, taxes and insurance. He made his money on his shop - oil/filter changes, tire rotation, selling tires, all types of mechanic work. told me he had been approached by a distributor to become a franchisee of that fuel brand with the addition of the convienence store type operation. Turned it down as a giant headache and loss leader...Today the pumps are gone and he is just a mechanic shop and doing better without the headache and costs...

LBlack14

Sneakylong

For all the talk about a gas tax holiday, it turns out the average gas usage is a little less than 2 gallons a day. That would equate to a savings of less than $24.00 for 3 months.

SVonhof

DonM I can only make assumptions theses days. It’s probably safe to say that a typical gross margin (selling price minus cost of fuel and taxes) would be 20 cents or less. Credit card fees are say 3 percent, and they eat into the margins. At these prices they gobble up the whole margin. Maybe JB should be asking the credit card companies to cut their fees charged to gas stations, lol!

If the credit card companies are forced to cut their fees, then I won't get my 2% cash back with each purchase! 😄

sdandrea1

SVonhof If the credit card companies are forced to cut their fees, then I won't get my 2% cash back with each purchase! 😄

Giphy - damn straight GIF by Shock Top

wishbone

Used to have a client who owned 13 gas stations /convenience stores. He said the margin on gas was pennies per gallon, it was the convenience store that drove his profits.

Ynotgolf

Good thing I didn't post this! I would have been attacked. Where's JRock? Take it to the Water Hazard please!

Par4QC

Ynotgolf Well, it appears that you just did. 🤔

Ynotgolf Good thing I didn't post this! I would have been attacked.

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