Gas prices

[SoonerP226]

Doing the math from @SlugSlinger, all of these places are running <10% over their cost. In Sam's case, <4%...they sell so much volume is other stuff, the gas is lost in the numbers.
SB aren't making sh*t except to cover cost to provide gas...look at what it would cost if they actually put a margin that made them money, say 15-25%. The gas is bait to consumers inside to buy stuff that they can make money on.

The ones who make out like bandits on the deal are the credit card processors. They're not just taking a percentage, they're taking it off the top. I don't remember the exact numbers, but the last time there was a big jump in gasoline prices, NPR (IIRC) did a piece on it and ran the numbers, and they figured that the average small gas station's owners were actually losing money on gas sales after the credit card processors took their vig.

 

[SoonerP226]

Ok, then it's just Putin and evil capitalists.

And Trump. You forgot Trump.

 

[thor447]

The ones who make out like bandits on the deal are the credit card processors. They're not just taking a percentage, they're taking it off the top. I don't remember the exact numbers, but the last time there was a big jump in gasoline prices, NPR (IIRC) did a piece on it and ran the numbers, and they figured that the average small gas station's owners were actually losing money on gas sales after the credit card processors took their vig.

Yep. Those merchant fees can really hurt the smaller operators who don't have large credit card processing accounts.

 

[JEVapa]

And Trump. You forgot Trump.

True, but mostly Putin and small business capitalists.

 

[Okie4570]

I just paid $3.99 here in east TX. I‘m pulling a trailer with my Ranger on it up there on Saturday, so I hope the gas prices are still dropping.

We spent five days the in Springfield/Branson area. Traveled through OK and KS on the way, Arkansas and OK on the way home. Enid area had the highest gas/diesel prices of the entire trip. There was $4.90 diesel at a couple of places along I44 even.

 

[Seadog]

Biden has reduced our national oil reserves to it's lowest point since 1986 and shipped it overseas. Now he is really screwing with national security but no one does a thing. Except us-we pay more at the pump.
I'm beginning to think that neither Obama or Biden likes us too very much. I guess that when the wife asks where her birthday gift or anniversary gift is we can honestly tell her Biden took it.

Most all that money that Hunter Biden made from Brisman working in Ukraine and that he portioned out to his father Beijing Biden the big guy, do you know where they invested that Brisma Chinese money? Foreign energy. These guys are probably turning into billionaires just from this alone. Decimating American energy and making foreign energy skyrocket. All under the guise of being green. Green equals screwing American energy and being dependent on foreign energy. Thanks Democrats

 

[dennishoddy]

Paid $5.29 today in Colorado.

 

[rlongnt]

Go ahead and explain the meaning of profit margin........ It alludes a lot of well meaning folks. Had to explain it to my son several years ago.

I'll shoot... The sweet spot for oil producers is $65-$85 a barrel. Why is that? Because above that everything else goes up and margins go down. Third party, manpower and materials all go through the roof. It also makes things take 3x longer to do because of those same constraints. Another thing nobody talks about is the need to constantly be drilling new wells at inflated prices to maintain current production. Wells taper off requiring constant drilling just to keep up with current output.

 

[TerryMiller]

Paid $5.29 today in Colorado.

Dennis,

Are you a Good Sam member? If you are and stumble upon a Pilot/Flying J service station, using the Good Sam card for their "bonus" discount nets you a five-cent per gallon discount. That said, it only works for you if Pilot/Flying J is competitive with the rest of the fuel stations.

We came back from Alabama recently, and I was surprised to see them competitive with the other stations. Usually, they are a bit higher.

 

[John6185]

Joe Caught Selling USA Oil Reserves

Biden is selling our strategic oil reserves to China who despises us. But money is money to the ruling class, to heck with the citizens he is "working for."
Biden’s Energy Department in April announced the sale of 950,000 Strategic Petroleum Reserve barrels to Unipec, the trading arm of the China Petrochemical Corporation. That company, which is commonly known as Sinopec, is wholly owned by the Chinese government. The Biden administration claimed the move would “address the pain Americans are feeling at the pump” and “help lower energy costs.” More than five million barrels of oil released from the U.S. emergency reserves, however, were sent overseas last month, according to a Wednesday Reuters report. At least one shipment of American crude went to China, the report said.
How delightful!