Fueled the Tahoe up this morning: 1.34 regular unleaded at Texaco.
Hummer: 1.54 premium at same station.
You will notice that the price of gas rises much faster than it goes down. I owned a Texaco for awhile and here is generally how it worked:
Each day we would receive a price update. This reflected what we would pay if we bought gas that day. If the price rose, we would raise prices as fast as possible so we could afford the next delivery (we meaning independent operators). However, if the price went down, we would hold off lowering prices as long as possible, following the national discount operations. By doing this we were able to increase our pool margin and thus profits. A week of declining gas prices was actually a very profitable time for me.
FYI, the fuel I purchased came from the same tanks aother stations in my area, but my cost may be more or less than other operators, chains etc. I always thought it to be quite a scam pulled of by the big oil companies. Milking us little guys for a few bucks a month when they could lower our wholesale cost and we could increase our sales and profits. Of course, I do not have all the information they do...
Black Lingenfelter Lux