Local News

Rock Bottom Gas Prices Do Wonders for the Bottom Line

Posted March 16, 1998

— The prices at the pump are still dropping. The average price now is $.95 a gallon in North Carolina. That means pocket change for almost everyone, and a possible profit for others.

Gas prices in the Triangle for unleaded self serve regular are at their lowest point since May, 1994. When the prices bottom out like this, it can mean a lot for a businesses' bottom line.

"Usually it costs $13 bucks to fill up a tank," says motorist Michael Bertrand. "It just cost me $10. So it really really helps in the pocket every week."

For people who have a long drive to work, these lower gas prices mean money in the bank. AAA says motorists can thank the oil companies.

"The oil that we are producing used to go especially to heat in the wintertime," explains AAA representative Kerri Habben, "and because of the mild winter we've had, we have had to put more production into gas production as opposed to heating."

The lower prices from the big oil companies benefit our small businesses the most. Rush Couriers says gasoline makes up 30 to 35% of its daily expenses.

The driver-owner of Best Taxi says the pennies shaved come out to an additional $100 dollars earned a month.

So what do these companies do with the extra cash? The courier service says it may get passed along to customers in the form of lower prices. The taxi driver says he's putting it toward the upkeep of his vehicle and an upgrade on his insurance.


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