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So oil is off of it's high by 10%

Gas[here] is still sitting on it's high.

Funny.....how that DOESN'T work when the #'s are declining instead of climbing.

Just rumbling aloud here.

Non-trickle down economics.

What did the gas you are pumping now cost, just because oil drops 10% doesn’t mean what’s there automatically drops 10%.

Good word, "rumbling". I recommend you surf the net on how the oil futures market works, what happens to oil when it leaves the ground and finally makes it's way into your tank. For that matter the rest of the sales world works that way.. But BTW, gas dropped about .07 cents here.

I was grumbling about that to a local station owner, he got a little irked and read me the riot act. Something like, 'When I see the spot price jump up, I jack pump price to be able to buy the load coming in next week at the higher price. I don't lower pump price until the higher price product I paid for is sold and spot says the next bulk delivery will go down, it's just good business, I can't sell 4 dollar product for 3.50...I have to wait. I wish there was no fluctuation at all, but I'm not in charge'. That shut me up.

Simple solution…don’t buy it.

Like primers, I’d prefer $4 a gallon available gas to $1 unavailable gas. This way I can decide how badly I want it.

Jorge:
I don't disagree with you and I do have the tiniest bit of education on how those markets work.

I also find it odd that the moment 'oil' rises[futures], gas goes right up along with it[instantly].

Swifty52:
This also 'should' work in reverse[in averages], right?
Was the gas that is in the tank at the station made from the oil that hasn't made it to a refinery yet?
If not, why did it go up?

Locally we had stations going UP near 10% daily 2 weeks back.
This week I have seen where one station has dropped .05. That's it.

He said - "Fluctuations!"
The Japanese lady said - "Fluck you too!!"

Well geez dude, gas stations only make 3-7 cents per gallon pumped. So if price at the pump is say 4.00, then the station paid 3-7 cents less or 3.93. Now if his load was delivered yesterday @3.93 how can they drop 10% or 39 cents in one day.
As far as what’s in the tank read flintlocke’s statement. It’s called economics 101.

So increased profit from 'inventory on hand'

" I can't sell 4 dollar product for 3.50."
But I'll damned sure sell $3.50 product for $4.00[on the front side].

I bought oil stock 2 years ago when it tanked.

That's how I deal with high prices now. Not as upsetting getting dividends when filling up tank

I was in the fuel business for over 25 years, and that's exactly the way it works. Fast to rise, slow to come down at the pump. If the average guy knew how thin fuel margins are, they'd think anyone in the retail fuel business is nuts.

FYI....crude oil is up over $7/bbl to $102, UL Gas up 20cts/gallon, Distillates up 37cts per gallon today on futures market. Unfortunately, not a lot of downside for fuel prices for a while.

I'm well aware of this JG[have had close friends in the retail end over the years].
Why they need you buying chips/drinks-coffee/cigs/candy etc

I don't begrudge anyone a profit as I run/own a small retail/commercial business.

It just seems to me that 'gas' should be off of it's high by now as 'oil' has been off of its high for several days now.
And maybe it will be by the time I roll out of work today, who knows.

Exactly. Very thin fuel margins, get you into the store to screw you on everything else. Funny how nobody bitches about buying a $1/qt bottle of water, or a $2 cup of coffee that costs the store 20cts.

Might have something to do with the fact that people don’t ‘need’ a bottle of water or a cup of coffee from the gas station in order to get back and forth to work everyday.

Wisconsin has a minimum markup law dating way back to protect the small mom-n-pop business from the chain giants.

WI now and then has tried to repeal this law. Never gonna happen. The community I live in gas is always 5¢-20¢ higher than neighboring communities. I refer to them as the Cartel, lol.

To the point of this thread, I get the fast to rise, slow to fall. I just consume less gas, or opportunity shop when I note gas cheaper next town over and buy there.

We live in a marginally capitalist country, if there is so much filthy lucre to be made in oil and you don't own Exxon, etc stock, here's your sign.

JG, what's the deal with the price bumps for holidays where lots of people are on the road?

Gas went down .10 on Tuesday and another .05 Wednesday to 3.57 a gallon where I fuel up daily. Matter of fact, all 4 main stations I’m aware of in that town lowered to the same amount. Murphy’s, Pilot, Casey’s, and BP.