Retail gas prices are currently hovering just a few percentage points shy of the all-time high set back in 2008. So we couldn’t think of a better reason to go for a (rather expensive) drive down memory lane to gawk with fondness at the last decade of gas price volatility.
According to Phil Flynn, Vice President and Senior Market Analyst at Alaron Trading, gas prices nationwide have been recently reduced about $.05 per gallon and he says this is just the beginning. He predicts that gas prices could go down to $3.50 a gallon by Labor Day (Sept. 1st).
It’s not only the customer who is taking a hit from high gas prices, some gas stations’ profits are being entirely mitigated by credit card interchange fees. The AP reports that gas station manager Roger Randolph was fed up with losing money on credit card fees. His solution was to place new signs on his Chevron gas pumps that read “No more credit cards.” Details, inside…