National Average Price of Gasoline Hits an All-Time High

#927
#927
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#933
#933
I hope it is a typo and will get corrected, but diesel fuel prices just hit their highest mark ever with this weeks update by the Department of Energy. A $0.349 increase (4th highest week over week increase) to $5.509. The previous high was March 14 at $5.25

Graph since they started recording data
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#934
#934
bigeasy said:
I hope it is a typo and will get corrected, but diesel fuel prices just hit their highest mark ever with this weeks update by the Department of Energy. A $0.349 increase (4th highest week over week increase) to $5.509. The previous high was March 14 at $5.25

Graph since they started recording data
View attachment 452208
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It's not a typo.

Everything is going to cost even more.
 
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#943
#943
VolFaninFla said:
Gas last night at the station close to home: $3.89.
Gas today at the same station $4.09. Another station down the street is $4.16.

Does anyone know what made it go up that much?
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The gas station owner. They control the prices at each gas station. Those prices aren't set by Shell, Exxon, BP, ect.
 
#945
#945
hog88 said:
Very very few station owners set the prices at their pumps.
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After the price of purchasing gas, taxes, transportation, state regulations, ect the owner is the one that puts the price up on the board outside that determines what he wants to sell it for to make "x" profit.
 
#946
#946
TheDeeble said:
After the price of purchasing gas, taxes, transportation, state regulations, ect the owner is the one that puts the price up on the board outside that determines what he wants to sell it for to make "x" profit.
Click to expand...

That’s not how it works for the vast majority of stations. The distributors own the tanks and fueling equipment at most of the mom and pop stores and they set the price at the pumps. Even at the larger chains many don’t have much in the say of what they sell fuel for. Where the stores make their money off of fuel is when it starts going down.
 
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#949
#949
hog88 said:
That’s not how it works for the vast majority of stations. The distributors own the tanks and fueling equipment at most of the mom and pop stores and they set the price at the pumps. Even at the larger chains many don’t have much in the say of what they sell fuel for. Where the stores make their money off of fuel is when it starts going down.
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From everything I've read the owner sets their price based on a number of factors. If someone isn't setting their own price then they don't really own anything. They're just leasing a building to sell beer/snacks.

But yes they do make more money when gas is cheap.
 
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