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By ROGER ADKINS
Gasoline prices across the Mid-Ohio Valley jumped as high
as $3.65 a gallon Thursday as $100 fill-ups at the pump continue to
become standard.
Most service stations in the area listed $3.65
for the price of regular unleaded fuel. There were a few exceptions,
such as the gas station at Wal-Mart in Vienna, where gas was still
$3.45 a gallon Thursday afternoon. The price at the Vienna Sam’s Club
was $3.40 Thursday afternoon. The Emerson Avenue Speedway had regular
unleaded fuel listed at $3.59 a gallon.
Randy Rapp, owner of
Rapp’s Chevron, said the cost of oil by the barrel continues to climb.
Rapp and Jan Vineyard, president of the West Virginia Oil Marketers and
Grocers Association, both reported prices by the barrel at $114 or $115
Thursday evening.
“The barrel price of oil just keeps climbing.
As long as that price goes up, the price at the pump is going to go up.
It’s jumped 12 cents in the last two days,” Rapp said.
Rapp said he believes gasoline could be as high as $4 a gallon by summer.
“I didn’t believe they would get it to $4 a gallon, but now it’s getting close. It’s terrible,” he said.
Rapp said he receives daily price sheets for every brand of gasoline.
No one is getting a deal right now, he said. The market is even across
the board.
“There’s no one getting that advantage. Everyone is paying the same,” he said.
That means few retailers are able to provide gasoline at a lower price.
As a result, more and more consumers are having to pay $100 at the pump
to fill up larger vehicles.
“This concerns me a lot because now
I’m seeing a lot of $100 fill-ups. If you drive an SUV or full-sized
truck, it’s $100 to fill it up. That’s just to get you back and forth
to work. That’s a big hit, I don’t care who you are,” Rapp said.
The high cost of gasoline will continue to affect the amount of money
consumers spend on others things, which will have a negative effect on
what customers buy inside the gas station, Rapp said. This is
concerning because retailers are making more money from the sale of
products inside the store than gasoline because of the high cost they
must pay to stock fuel, he said.
The increasing cost of
groceries and sundries as a result of high gas prices means
inside-the-store sales might not be as profitable in the future, Rapp
said.
“The other thing that concerns me is we’re getting fuel
service charges on almost every product. Milk, pop, all of our
sundries. There’s no way to get around that. In the past you’d have one
or two vendors who do that. Now it’s pretty much standard. Even the
service people who come in to work on our air conditioning charge a
fuel-service fee. Everyone’s passing that fuel charge on. That’s a big
expense,” Rapp said. “Everything adds to the bottom line, you have to
cover that somewhere.”
Rapp and Vineyard said retailers are
being affected by the increasing number of people who use credit cards
to pay for gas purchases.
“The average consumer doesn’t usually
think about this, but everyone is using their credit card to pay for
gas now. It costs me 10 cents a gallon for you to use your credit card
to pay,” Rapp said.
That can be a problem when Rapp is paying $3.55 a gallon for gas and the going rate is $3.65, he said.
“Last year the credit card companies made more off of gasoline purchases than we (retailers) did,” Vineyard said.
Vineyard said she’s shocked by the current price of crude oil.
“The biggest spike right now is in crude oil. It just blows my mind.
For every $1-dollar-a-barrel increase, that generally translates to 2
or 3 cents at the pump,” Vineyard said.
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