Results tagged “gascrisis”

While oil prices have hit a three-month low, gas prices in the NYC-area are still expensive as gas prices in other parts of the country dip below the $4 level. WCBS 2 tried to find out why, and the AAA New York's Robert Sinclair said, "We saw in the second quarter that Exxon Mobil made nearly $12 billion in profits, so certainly there's some profit built into this and even at the refinery level, the distributor level, they're making money and maybe the retailer is trying to break off a little bit for themselves as well." Other possible factors: The fact that NY drivers need their gas and the state's eight gas taxes (about 70 cents/gallon).

A sad but natural phenomenon is occurring at some gas stations: They are running out of plastic numbers to display gas prices--specifically, the number 4, thanks to the budget-busting high gas prices. One station manager told the Times he's still waiting for his 4's to come in (that's why he's handwritten them), not to mention the 5's for the diesel pump. The city's Department of Consumer Affairs and State Department of Agriculture and Markets say the handwritten or photocopied numbers are okay, as they understand the marketplace has been changing very quickly.

Soaring gas prices have managed to edge gas prices to nearly $4/gallon in the area. At an Exxon station in Queens, WCBS 2 found $3.99/gallon gas, while a White Plains Getty offered it at $3.69/gallon. One White Plains resident said it cost him $55 to fill up his sedan, "I used to pay by cash, now I have to use my credit cards because I don't carry that much cash on me."