The Leadersmith

Demystifying the Price at the Pump [Episode 189]

September 19, 2021

Have you ever wondered why gas prices go up and down? In this episode, I will explain how gas stations determine what they charge you at the pump. I will explain how the price of crude, supply and demand, local competition, and most importantly the gas station’s real business model—which is not what you think—all connect to get to the amount you are charged at the pump.

For this episode, I use a number of publicly available oil charts and an excellent article about the price of gas by Zachary Crockett (Thanks, Zack!):

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