Skipping the fuel price musings today
July 31st, 2008 at 05:57pm Thomas V. Bona
This morning’s prices at fuelgaugereport.com are already outdated, so I’m not going to bother with the trends. Suffice to say, prices jumped in Rockford today. We’ll see what tomorrow brings.
Entry Filed under: Fuel price musings
3 Comments Add your own
1. Bob Trojan | August 1st, 2008 at 2:46 pm
Prices sure went up fast…what happened to that “lag time” when barrel prices were falling?
2. Thomas V. Bona | August 1st, 2008 at 2:51 pm
Bob,
As you’ll see in the story, retail gas prices dropped faster than wholesale … they were slashing margins in the hopes of getting drivers back to the pumps, but when wholesale jumped they had to jump with them. Sometimes gas stations make really low margins, sometimes they make decent margins - I’ve heard 30 cents as a high mark recently - but they’re not exceeding the margins they had when gas was only $2. In fact, they’re often making much less. Are gas stations the only ones not allowed to make a profit in a capitalist society?
Again, oil up 80 percent from last year, gas up 30 percent, even after the jump. That seems like plenty lag time.
3. Robert Trojan | August 3rd, 2008 at 7:32 am
Did you see this story in today’s Tribune?
http://www.chicagotribune.com/travel/chi-chicago-regional-airports_08aug03,0,4679838.story
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