Prairie Public Broadcasting

Gas stations hurt by high gas prices BISMARCK, ND (NDPR) - The head of the North Dakota Petroleum Marketers Association says some gasoline retailers are struggling to survive as gas prices have risen.

Mike Rud says they're hurt by the high prices as well. He says 2002 was viewed as the "misery benchmark" in the gasoline retailer industry -- and in that year, the gas stations averaged seven percent profit on fuel -- but he says this year, it's less than four percent.

"I've had several ladies calling on behalf of their husbands, and you can tell they're just emotionally distraught," said Rud. "They say, 'What can we do, Mike? How can we turn this thing around?' That kind of stuff hits home."

Rud also says some North Dakota gas stations are giving drivers a few cents off per gallon -- if they pay in cash, and not by credit card.

"For every dollar (in sales), you can put three cents toward credit card fees," said Rud. "Right now, credit cards are costing a marketer 12 cents a gallon in processing fees."

Rud says wild speculation in the oil markets has driven up prices to unrealistic levels. He says there's no reason for that -- because, right now, there is enough oil supply to meet demand.





© Copyright 2009, NDPR