Gas prices keep rising at a ridiculous rate, but gas station owners aren’t to blame — take it from a gas station owner.
CNNMoney spoke to an owner who doesn’t want to be accused of price gouging. He says his hand has been forced due to the market:
“My prices are based on what I pay my gas supplier and what my competition is charging for a gallon,” says the owner, adding “To say that I’m gouging by raising my prices is unfair. My wholesale price for gas changes every day. I have to keep adjusting my retail price so that I’m making at least some profit.”
In the long run, supply and demand will shape the cost of gasoline, but you’d better believe gas stations will charge whatever customers will let them get away with.
What have you done to try to cut down on gas costs?
Gas station owners: Don’t call us gougers! [CNNMoney]