Gas Stations Involved In Price War On Capital Boulevard
Posted January 27, 2003 4:00 a.m. EST
RALEIGH, N.C. — Despite the concern over a possible war with Iraq and problems in Venezuela, gas stations on Capital Boulevard are locked in a price war and motorists are the winners.
Many gas stations in that area advertised prices, ranging from $1.29 to $1.49 for regular unleaded gas. Customers are pleased to see the price war.
"I was ecstatic. I'm going to stop here. I'm going to run in there and get some gas," driver Rick Whitfield said.
"[It's] the only kind of war I like to hear about. I guess that's good," driver Bill Thomas said.
However, some industry watchers believe a price war between competing gas stations is not good for business.
"The companies that sell that product below cost are basically doing it at the cost of all of us because it endangers the marketplace," said Gary Harris, of the North Carolina Petroleum Marketers Association.
The gas prices change daily and most experts said they have nowhere to go but up. Nationwide, officials say the average price of unleaded regular gasoline is $1.52.