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Retail gasoline pricing

Remember that retail pricing is not based upon the cost of the item already on the shelf. It is based on the replacement cost. So if a wholesaler notifies a dealer that the next shipment of unleaded regular will cost twenty cents more per gallon, you can bet that the retail price will rise by twenty cents within minutes, even if the shipment isn't due for three days. It's the only way you stay in business, whether you're selling gasoline, eggs, or shoes. That said, what we saw yesterday was blatant price gouging and unnecessary panic by idiot consumers. I'm not aware of ANY wholesale price increases pending. There were simply advisories that if the Texas refineries were hit hard, we could see some slight, temporary shortages if the mid-Atlantic refineries had to ship priduct the the South Central market.

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