Thursday, December 11, 2008, 9:15 AM: I am at home this morning, and just based on some Internet surfing, it appears that Speedway is initiating a hike to $1.59 today, as predicted by Patrick (on our site) and fmcman (on our forum on GasBuddy). I am not certain of this, but it is consistent with calculations based on last night’s close on NYMEX, which would put the 0-cent margin price at about $1.47 a gallon. Like the unsuccessful Thanksgiving day price hike, though, it looks like they are settling for lower margins at this time than in the past.
Recently, Patrick wrote "I believe odds are greatly increasing that we may see gasoline under $1 in the next few months" and also commented that he and I have some divergent opinions right now. Hey, that’s what makes this all a "game", right? So, let’s put it out there as a long-term prediction: What will we get to next: $1 a gallon retail or $2 a gallon retail? I say $2.
I see speedway is at again 1.75.
Admiral & Citgo following.
OH NO! Speedway is trying to make a PROFIT! How awful!
Why is it that gasoline retailers are always blamed for price increases, but never get credit for price decreases??
I got news for you: Without convenience store profits, most gas stations would go out of business. You can’t pay the utilities on the margin gas brings in.