Photo: herzogbr (Flickr)
Indiana retailers are saying the blame for the recent rise in gas prices should not be put on them. The Executive Director of the Indiana Petroleum Marketing and Convenience Store Association Scott Imus says the hike is a direct result of an increase in the price of crude. Imus says in the last month or so crude oil has gone from around $75 a barrel to almost $90. As a result, he says, wholesale prices go up. Imus says wholesale prices in the Indianapolis area have been rapidly increasing everyday…and there hasn’t been much of an increase in retail until recently…
“Because the retailers are always the last ones to pass on these expenses it’s a very competitive environment and no station owner wants to be the first to pass on these increases,” said Imus.
Imus says last year the average profit was about $.06 a gallon for Indiana retailers. The national average meanwhile is $.17 per gallon.