Quote:
Originally Posted by mc-m3
Quote:
Originally Posted by Rmtt
Gas dropped ~50 cents a gallon here the last 2 days. Stores with the highest turnovers dropped first, then the other stores followed.
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I hate you people and your cheap gas. Finally dropped under $3 a gallon for regular f'ng unleaded. Out here on the west coast, anything goes wrong with oil our prices go up 2 seconds later. Prices drop for oil, we may see a drop 2 months later. Last time at the pump (2 weeks ago) premium was $3.50/g, drove by today and regular was $2.95, so down maybe 15 cents/g |
I wonder if it could be because CA taxes gas at a higher rate than any other state? It's like 80¢ per gallon in taxes. That never goes away so CA is just used to paying higher for gas.
This isn't related but worth pointing out.
I learned working for a company that ran gas stations that they make more money when price of oil drops, because they can ride the margin wider going down. When cost of oil rises, they ride the margin thinner. It seems counterintuitive but gas stations make more money as prices fall, than when they rise. The public thinks it's the opposite.
So the longer they take to lower the sale price, the more they make. At some point it's just competition between other nearby stations that drives it down.