Why haven't gas prices gone down?

I'm actually surprised that the majors haven't all collectively decided to just sell their product for another buck a gallon 'just because' and laugh all the way to the bank. Give the people no alternative and they will learn to deal with it and presto, it's the new normal. America!

The price of literally anything else sold in this country can be elevated permanently for any number of made-up reasons and the public will complain but still buy it. I never understood why gasoline pricing is so dynamic but I'm not complaining.
 
Bottom_Feeder said:
I'm actually surprised that the majors haven't all collectively decided to just sell their product for another buck a gallon 'just because' and laugh all the way to the bank. Give the people no alternative and they will learn to deal with it and presto, it's the new normal. America!

The price of literally anything else sold in this country can be elevated permanently for any number of made-up reasons and the public will complain but still buy it. I never understood why gasoline pricing is so dynamic but I'm not complaining.
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We have that on a very small scale around my city. There are 4 stations, all different brands, that seem to compete with each other. One goes up, the others follow in lock step. They obviously have some latitude to set prices as within a coupe days, one of them will drop prices a few cents. That station will be packed, while the others are empty like toxic waste was found in the parking lot. I guess this affects the real business (inside sales) so much that the station owners will suck up the profit on gas just to bring traffic back to inside sales. So the remaining stations will lower the price to the first one's, and the traffic returns. All a big game, but funny to watch how predictable it is.
 
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grampi said:
Production and exploration restrictions have been lifted, and OPEC has actually increased production, and yet gas prices remain high? Why?
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I may be wrong but I think we import less than 15% of our oil demand from OPEC nations. I think most of our demand is produced domestically.
 
When I need gas I avoid sketchy gas stations just to save $1.50 per fill up.

I really don’t pay attention to gas prices.
 
Gas ain't too bad around here.

QuikTrip gas station fill up yesterday , paid with the app and saved $0.25 each gallon , $2.22 per gallon , E10 , 87 octane.
 
JohnnyG said:
When I was in the business, a VP had a presentation and told us that there was more profit in selling Twinkies than a gallon of gas.
I suspect that is still the case.
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JohnnyG said:
So, the convenience store part of a station keeps the operation profitable.
Does that explain Bucee's?
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Look around.... When's the last time you saw a gas station ? What you see now are convenience stores that also sell gas. One of the larger chains in the midwest, Speedway (now owned by 7-11) had a slogan of "The convenience stores of ... Speedway".

Regarding Buc-ee's, estimates are that their sales are 2/3 inside store stuff vs 1/3 fuel.
 
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