This industry more than any other is regulated by the customers and competition.
More Quotes from Jeff Lenard:
There was an increase in thefts immediately, especially with the dramatic increase of prices. After Katrina, there were so many retailers that couldn't absorb losses anymore ... so they went to prepay. They couldn't afford that one drive-off a day that would hurt their gas profits. And with Rita ... we will see more stations go pre-pay, if nothing else, as a temporary solution.Jeff Lenard
When gas is 3 a gallon the retailer is responsible for about 4 percent of the cost, but they are getting 100 percent of the abuse.
Jeff Lenard
Stores are figuring out you make more selling a 12-oz. cup of coffee or a 12-oz. bottle of water than you can selling a gallon of gas.
Jeff Lenard
There are no strong regional players on the west coast. The west coast tends to be mom and pop stores. It's a lot more open for competition than the east coast.
Jeff Lenard
There is a 12-cent per gallon normal retail markup. But usually, the profit margin is about two cents a gallon.
Jeff Lenard
California retailers have a whole lot of obstacles to selling gasoline. You have stringent environmental regulations that add to it.
Jeff Lenard
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