03/04/2022
Great insight from our national association Energy Marketers of America - EMA
Blaming gas station owners for high gas prices is nonsense. The retail motor fuels market is the most competitive marketplace in the country. Retailers post their prices on big signs where a one penny difference can decide whether a retailer gets business or not.
Unfortunately, what the market is currently experiencing is the whiplash effect of prices due to Russia’s invasion of Ukraine. Crude oil is traded in a global market where prices are ultimately set by worldwide supply and demand and influenced by Wall Street commodity traders’ perceptions about future supply and demand.
Furthermore, a myriad of factors beyond the cost of crude oil and refining it into gasoline affect prices at the pump, including federal/state motor fuels excise taxes, boutique fuel requirements, and credit card swipe fees which remain the highest expense after labor for gas station owners.
Rob Underwood
President
Energy Marketers of America