Gas prices are as high as they’ve ever been in the U.S. But there’s one place in the country where people are fueling up for under a dollar a gallon. The GLRC’s Mark Brush explains:
Transcript
Fuel prices are as high as they’ve ever been in the U.S. But there’s one
place in the country where people are fueling up for under a dollar a
gallon. The GLRC’s Mark Brush explains:
Some drivers in one part of the country are not feeling the bite of high
gas prices, but they planned for it. They pre-paid for thousands of
gallons of gas when prices where cheap and now they’re filling their
tanks with the fuel they banked ahead of time. These drivers are filling
up at First Fuel Banks in St. Cloud, Minnesota.
Jim Feneis is the CEO of First Fuel Banks. He says they have some
pretty happy customers these days:
“We have better than 300 members still fueling at sub one dollar per
gallon, and we have thousands of members fueling at sub two dollars per
gallon.”
Feneis says he has no plans to expand the business to other parts of the
country. Unlike oil companies who are reaping record profits he says
retailer’s profit margins are slim and getting slimmer.
For the GLRC, I’m Mark Brush.