Make us your home page
Instagram

Rising gas prices: Don't blame private gas station owners

Rising gas prices are again raising the blood pressure of Tampa Bay motorists.

As of Wednesday, the average price of unleaded gas in the area had reached $3.80, up 45 cents over the month and up 17 cents in just one week, according to AAA's Daily Fuel Gauge report. A year ago, prices were at $3.63 a gallon.

Who you gonna blame?

The usual list of potential culprits is making the rounds: speculators driving up the markets; refineries making an early switch to costlier summer blend fuels. But think twice before venting to your local private gas station owners. Financial information firm Sageworks estimates privately held gas stations make less than three cents for every dollar of gas sold. In each of the past 10 years, the industry's net profit margin has been less than 3 percent, and as low as 1 percent at times.

Spending $50 to gas up lately? Here's where your money goes

Crude oil $34 68 percent

Taxes $6.50 13 percent

Distribution/marketing $4.25 8.5 percent

Refining oil into gas $4 8 percent

Gas station profit $1.25 2.5 percent

Source: Sageworks; eia.gov

Breaking down bay area prices

Price per gallon

RegularMidPremium
Wednesday$3.80$3.96$4.11
Week ago$3.63$3.81$3.95
Month ago$3.35$3.55$3.70
Year ago$3.63$3.78$3.90

Source: AAA Daily Fuel Gauge Report

Rising gas prices: Don't blame private gas station owners 02/20/13 [Last modified: Thursday, February 21, 2013 12:15pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Fueled by indulgence and machismo, restaurants are a hotbed for sexual harassment

    Consumer

    When Brenda Terry was 16 and living in St. Louis, she was a host and food runner at a sports bar where female employees wore cute little cheerleading skirts. One night, she said, a patron grabbed her crotch. She ran to her management team and they demanded she point out the culprit. Turns out, it was a regular …

  2. Pigs can be therapy animals too. So can horses and rats and cats and llamas and … (w/video)

    Health

    Shrieks of laughter echoed off the walls of the hospital as Thunder the mini pig flopped onto his side and the children huddled around him, scratching his pink, hairy belly.

  3. Vology landlord challenges property tax assessment

    Real Estate

    LARGO — Eight months after paying $10.15 million for the office building that houses IT services company Vology, a New York company is suing the Pinellas County Property Appraiser and Florida Department of Revenue contending its $5.5 million tax assessment "exceeds the market value" of the property.

  4. Report: Rich will get still richer unless policies change

    Business

    TOKYO — Global inequality has stabilized at high levels in recent years, a report said Friday, despite gains among the poor in China and much milder disparities in incomes and wealth in Western Europe.

  5. How the Disney/Fox deal will shake up Hollywood

    Corporate

    NEW YORK — After years of tremors, the earthquake that had long been predicted finally shook Hollywood.