Why owners would rather sell food than fuel.
Danny Nordman owns three gas stations in the West Texas metro area of Midland-Odessa. And with gas prices soaring to record levels, it would be easy to think Nordman is just sitting back watching the money roll in.
Actually, he’s watching it roll out.
“We’ve raised the price of fuel as little as we could [and] absorbed the price increases to cut into our profits,” he said. “On Friday, the wholesale price went up 21 cents. … Our price at the pump went up 11 cents.”
And it wasn’t the first time the math went……[read more]
What makes up the price of gas that the consumer pays? How do gas stations/convenience stores actually make money, explain? How does this article change your perspective on the economics of gas stations?
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