Quote:
Originally Posted by WhiskyPat12
I wonder if it could be because CA taxes gas at a higher rate than any other state? It's like 80¢ per gallon in taxes. That never goes away so CA is just used to paying higher for gas.
This isn't related but worth pointing out.
I learned working for a company that ran gas stations that they make more money when price of oil drops, because they can ride the margin wider going down. When cost of oil rises, they ride the margin thinner. It seems counterintuitive but gas stations make more money as prices fall, than when they rise. The public thinks it's the opposite.
So the longer they take to lower the sale price, the more they make. At some point it's just competition between other nearby stations that drives it down.
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Not in CA. up in WA. our gas taxes are high, but not +$1 compared to the rest of the country.