Oil prices, price at the pump

[Dyno]

I read something that initially I didn't believe that said that gas prices usually go down on Tuesday or Wednesday to lure the credit card customers in. Then, they bump prices back up in time for Friday, when people get paid.

I didn't believe it and then it happened two weeks in a row...

I thought gas stations were trying to dissuade people from using cards to pay for gas because the fees were such that they were making less than a penny/gallon profit on CC gas transactions. Some places around here have gone back to charging five cents a gallon more on card purchases. Problem is, everyone is used to using plastic (and you can't fill up your tank with a single bill unless it's a 50 or 100).

Notice also that you don't see Super Saturday/Thrifty Thursday/Manic-Depressive Episoides Monday promotions that much anymore. They probably don't have the margin to cut five cents from the posted price even temporarily.

For years, two stations across the street from each other near me lowered prices 10 cents a gallon on Thursdays. Both of them stopped about 2 months ago.

I've noticed such a wide range of prices the last week or so. My car takes premium (lucky me) and I can pay anywhere from $3.99 to $4.39 a gallon, all within a 10 mile radius. The station where it's $4.39 dropped the price 6 cents since yesterday. Another station near me that's usally on the pricier end of things is actually one of the cheaper stations right now.

 

[Boom_70]

On another note - home heating oil down almost $1 per gallon this week.

For those who use it seems like we are reaching a good point to lock in.

 

[KYSportsWriter]

Gas is down below $3.50 in these parts. I doubt it stays that way for long, though.

 

[crimsonace]

I saw it as low as $3.329 yesterday. It was $3.759 three days before.

 

[KYSportsWriter]

It's fallen to $3.40 and below in some places around here. Just waiting it for it go back up.

 

[micropolitan guy]

1. Rule No. 1: Oil companies will screw the public 365 days of the year.

2. Rule No. 2: See rule 1.

Prices rise in $.06-$.10 increments, drop by $.02 a gallon.

 

[joe]

My gas prices dropped by 30 cents today, from 3.49 to 3.19. I have no idea what caused the drop. But I'm going to fill up before it rises again.

 

[supermall]

Taxes should be raised for oil companies, this should be the only way to keep them in check.

 

[Tarheel316]

Taxes should be raised for oil companies, this should be the only way to keep them in check.

Wouldn't work. They would just pass them on.

 

[WS]

Oil shoots back up $5 today to around $85. Got to love it when speculators determine how much money you have or don't have.

Gas dropped about 6 cents per gallon over the past week or so around here to $3.45. Because I'm sure a $15-20 RISE in oil over a short period of time would elicit such a slow jump at the pump.

 

[BrianGriffin]

Must be Bush's fault with his ties to oil cronies.

No blue font. Cheney's going to find you and shoot you in the face.

 

[SpeedTchr]

http://redtape.msnbc.msn.com/_news/2011/04/25/6527434-why-gas-prices-go-up-much-faster-than-they-come-down