Gas stations profit as pump prices fall - NBC12 - WWBT - Richmond, VA News On Your Side

Gas stations profit as pump prices fall

From NBC12 News

RICHMOND, VA (NBC12) - Consumers aren't the only ones cheering about tumbling gas prices. Retailers say, they also profit as prices drop. 

Gas prices have gone down nearly everyday since October.
 
Right now, the average price in Richmond is a $1.57 a gallon. Although we found much lower prices. 

If you're feeling sorry for gas station owners as the prices dip, don't. When prices are lower they not only make more money, they also save money.

"For example during the summer, the owner would put a load of 7,000 gallons in his tank, that would cost on average about $28,000. Now, that same load costs about 12,000," says Michael O'Conner, of the Virginia Petroleum Convenience and Grocery Association.

Gas station owners say lower prices also result in  more people buying high-margin items inside the store.

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