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Raleigh station drops gas below $3

Posted October 16, 2008

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— A gas station in Raleigh pushed prices below the $3 per gallon mark Thursday.

The manager of the BP Pack Mart at 515 Ashe Avenue told WRAL that they were instructed to drop the price late Wednesday from $3.35 per gallon to $2.99.

On Thursday, they saw business more than double.

The average price per gallon at neighboring stations was $3.30 Thursday afternoon.

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  • Politically Honest NOT PC Oct 17, 2008

    Why is it that the price of gas can go up 30 cents in 20 minutes when there is a POSSIBILITY of a storm or something, but it takes two to three months for it to come down a dime?

  • jm18668 Oct 17, 2008

    Most gas stations will price their gas based either on what they paid the distributor for their current supply or what it would cost for their next shipment. As a profitable business they should choose the higher price. I don't like it either, but if I had 1000s of Gallons that I paid 3.25 for, It wouldn't make sense to sell it for 2.99. When my next shipment comes in and only costs 2.95, I can easily sell it for less than $3.

    Don't blame the stations for prices, they simply try to make a profit based on the price that they are charged by the distributor. It's the distributors that charge different stations different prices based on location. This is why gas prices gan swing $0.20 over a few miles.

  • enoughsenough Oct 17, 2008

    I just wish the price would go down as quickly as it rises.

  • -Enter Screen Name- Oct 17, 2008

    @chrbellm9: The cost of oil is not the only factor in the cost of gasoline. The cost of gas can go up even if the cost of oil goes down (and vice versa).

    Instead of fixating on the cost of oil as the only factor in what we pay at the pump, why not track the wholesale cost of gas and make your judgements there?

  • Redneck_Bob Oct 17, 2008

    Now it is time for the rest of the stations to drop their prices. I mean, if one can do it, all can do it. It is just a matter of how big a crook they want to be.

  • sstarling50 Oct 16, 2008

    The governor needs a raise before he leaves office. gas cheap other places.

  • 37 Oct 16, 2008

    Given the fact that our gas tax is amongst the highest in the nation, our prices will be a bit higher. I do not like this, but it is reality. Blame the state, not the gas station for this.

    You can find a rough estimate of equitable pump prices by multiplying the price of oil by .04. That means if the price of oil is $70 a barrel, a gallon of gas should be around $3.16. So overall, we are getting to about where we should be with our gas tax factored in. It can only go so low before there is no margin left and no, I am in no way defending high pump prices.

  • Tommylee Oct 16, 2008

    I want be happy untill I see $1.99 and lower. Funny how the price comes down so slow.

  • PeaceOut2017 Oct 16, 2008

    Still have about another $1 to go

  • CuriousT Oct 16, 2008

    I had a customer (Ft. Lauderdale, FL) ask today if we were still experiencing issues with gas. I told her yes. Then she told me her daughter (Johnson City, TN) quoted her their local gas price.....$2.89/gal.

    People are going to "burn in a hot place" for gouging us.

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