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Started By
Message
Do gas stations set new pump prices every hour when oil prices are on the rise?
Posted on 10/12/22 at 4:04 pm
Posted on 10/12/22 at 4:04 pm
Sure seems like it. I pass one everyday next to work that was $3.27 this morning and $3.39 on my way home. WTF
26
Posted on 10/12/22 at 4:06 pm to CouldCareLess
I can't answer that but when oil starts going down it takes a week for them to drop it any, going up they jump on it.
Posted on 10/12/22 at 4:06 pm to CouldCareLess
Nah. It's like Santa Claus. They wait until everyone is sleeping at the same time.
Posted on 10/12/22 at 4:07 pm to Barneyrb
Totally agree.
Posted on 10/12/22 at 4:07 pm to CouldCareLess
Not unheard of for gas stations to bump up the price before the ride home after work.
Posted on 10/12/22 at 4:08 pm to CouldCareLess
Funny ain’t it considering the fuel they’re selling that was was bought a while before that day
Posted on 10/12/22 at 4:08 pm to CouldCareLess
They do it whenever the proprietor decides to do it. Are you suggesting there should be some rules governing how and when gas prices are set?
This post was edited on 10/12/22 at 4:09 pm
Posted on 10/12/22 at 4:09 pm to TitleistProV1X
quote:
Funny ain’t it considering the fuel they’re selling that was was bought a while before that day
In what way is the relevant to the price they decide to charge?
Posted on 10/12/22 at 4:10 pm to TitleistProV1X
Y'all sound like a bunch of commie crybabies.
Posted on 10/12/22 at 4:11 pm to jawnybnsc
No, but its like gasoline prices are similar to crawfish prices. Everything affects them, but Gas prices increase at the mere thought of increasing oil prices.
Posted on 10/12/22 at 4:14 pm to CouldCareLess
I would think they have to keep up with the replacement cost of the gas going out of their tanks every day, hour, minute. You can't be selling gas at $2.79 per gallon when your replacement cost is $2.79, you won't be in business long.
Posted on 10/12/22 at 4:16 pm to CouldCareLess
They price it at whatever price then can sell it.
Posted on 10/12/22 at 4:19 pm to Barneyrb
quote:
I can't answer that but when oil starts going down it takes a week for them to drop it any, going up they jump on it.
I don't know but I've been told, the stations don't charge a price based on what the gas in the tanks cost them, they charge based on what they think it will cost them to fill it up next week.
Posted on 10/12/22 at 4:20 pm to TitleistProV1X
quote:
Funny ain’t it considering the fuel they’re selling that was was bought a while before that day
They are not pricing the fuel based on the price they paid.
They price it based on the price they are going to have to pay to replace it. There are tiny, tiny margins for gas stations on fuel.
Posted on 10/12/22 at 4:20 pm to CouldCareLess
Pay your fair share whitey
Posted on 10/12/22 at 4:27 pm to CouldCareLess
quote:
Sure seems like it. I pass one everyday next to work that was $3.27 this morning and $3.39 on my way home. WTF
It’s based on the current price for the next load for their tanks. Meaning if purchase price rises 5 cents, they have to sell what’s currently in their tanks at 5 to 10 cents higher. Otherwise they don’t have the money to buy the next truck load, or they would be hemorrhaging money.
Posted on 10/12/22 at 4:27 pm to TitleistProV1X
quote:
Funny ain’t it considering the fuel they’re selling that was was bought a while before that day
But they already bought that gasoline too…they have to price existing gas in their tanks to accommodate the replacement costs coming. The actual gas is a fairly low margin for most stations. Imagine if you bought the gas currently being held in your tanks for $2 a gallon. If you sold that for $2.50/gallon, you would making small margins because of the taxes, marketing, franchise fee, etc. Then, if your next delivery is going to cost you $3/g you wouldn’t have the capital to cover that cost.
Gas stations base most of their pump prices on the expected replacement cost
Posted on 10/12/22 at 4:38 pm to CouldCareLess
They’re not charging you for what they paid. They’re charging you for what it’s going to cost to refill. At least that’s what I’ve been told in the past from a guy that owns stores that sell gas.
ETA: I’m late to the party…
ETA: I’m late to the party…
This post was edited on 10/12/22 at 4:40 pm
Posted on 10/12/22 at 5:04 pm to CouldCareLess
Oil prices were up a little today and are down $2 in after hours and down overall since the 10/7 pop above $90.
Posted on 10/12/22 at 5:06 pm to Barneyrb
quote:
can't answer that but when oil starts going down it takes a week for them to drop it any, going up they jump on it.
Basic economics.
The gas in the tank was more expensive to purchase in the past when it was bought.
The new gas coming in could be more expensive than what is in the tank.
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