As We’ve Asked Before…

What happens when….

Conundrum

So what do you do when you’re a part time employee who makes about $10/hour and it takes you a gallon or so of gas to get to work and another gallon or so to get home and they ask you to come in on Saturday morning for a couple of hours and the gas price is up to $4.15 for regular at the cheap gas station? It’s happening to a a lot of folks. Happened to my son this morning. We figure he netted [...]

Hey, before you blame the folks at the corner gas station, consider the relationship they have with their bosses, Big Oil:

Awash In Profits, Exxon Extracting Every Penny From Its Franchisees

Every time Sohaila Rezazadeh rings up a sale at her Exxon station on Chain Bridge Road in Oakton, her cash register sends the information to Exxon Mobil’s central computers. If she raises the price of gasoline a couple of pennies, chances are that Exxon will raise the wholesale price she pays by the same amount. Through a password-protected Web portal, Exxon notifies Rezazadeh of wholesale price changes daily. That way the oil giant, which is earning about $3.3 billion a month, fine-tunes the pump prices at the franchise Rezazadeh has owned for 12 years. Now, however, Rezazadeh says she cannot stay in business. Credit-card fees are eating her profit margins. Exxon, which owns the station land, last week handed [...]

Have a great Memorial Day, everybody. We’re headed out shortly for dinner with our son, daughter-in-law, and new grand-daughter…

Technorati Tags: Gas Prices, Economy