US Oil Producers Fail to Produce

[ClydeR]

The number of gas stations is shrinking quickly. Part of the reason is declining profits. Recent declines in gas prices, in particular, are hurting locally owned gas stations.

Gas prices, after spiking upwards, have now declined for 30 consecutive days, per Gasbuddy. That's good news for drivers, but terrible news for gas-station owners.

• The pattern of a sharp rise and then slow fall in gas prices is the worst possible dynamic for such businesses.

How it works: "Stations tend to hold back price increases to hold onto customers," said Jeff Lenard of NACS, the trade association for convenience stores.

• As the WSJ explains, when the gas station refills its own tanks, it buys weeks' worth of fuel — sometimes months' worth, in the case of diesel — at a single high price.
  
  
• If prices then start to fall, the gas station is forced to sell at below its own cost.

More...

[Gelston]

Impossible, Seran told me gas stations bring in cash hand over fist from gas sales.

[Parkbandit]

Impossible, Seran told me gas stations bring in cash hand over fist from gas sales.

President Biden also made it sound like gas station owners were just being greedy by charging so much for gas.

[Gelston]

President Biden also made it sound like gas station owners were just being greedy by charging so much for gas.

They are obviously greedy, otherwise they'd have been out of business earlier.

[Seran]

The number of gas stations is shrinking quickly. Part of the reason is declining profits. Recent declines in gas prices, in particular, are hurting locally owned gas stations.

That's unfortunate that increased fuel efficiencies hurt the profit margins of gas station owners. And yet fortunate that fuel efficiencies /have/ increased. You can think fuel efficiency standards pushed by them consumer and environment protecting Dems!

[Tgo01]

Seran read that Clyder post and his take away was fewer people are buying gas because of more fuel efficient cars. This has to be in the top 10 of stupid shit Seran has said.

[Gelston]

The fuel efficiency standards don't even apply to SUVs and trucks, just cars.

[Seran]

The fuel efficiency standards don't even apply to SUVs and trucks, just cars.

Because the automakers produce other much more high efficiency cars and are thus able to meet fuel efficiency standards.

[Gelston]

Because the automakers produce other much more high efficiency cars and are thus able to meet fuel efficiency standards.

Which means nothing, because the top 5 vehicles sold in the US are trucks and SUVs, and only 2 of the top 10 are cars.

[Seran]

Seran read that Clyder post and his take away was fewer people are buying gas because of more fuel efficient cars. This has to be in the top 10 of stupid shit Seran has said.

Just because you scoff at the truth, doesn't change the truth. The increase in automobile field efficiency is one of the leading causes of gas station closures. Fewer people are smoking as well. If you don't need gas, don't need to stop by the store for a pack of smokes, then there's literally nothing you need that can't be purchased just as easily when you get your groceries.