Tuesday, June 17, 2008

High gas prices put gas stations out of business

Anyone out there who's had the idea that now would be a good time to own a gas station, with gas prices being so high, THINK AGAIN!

Unfortunately, this is a real issue. My father's friend owns a gas station and he has said that he doesn't really make that much money from gasoline. He used to make most of the money he earned from his repair shop. He recently expanded into a convenience-type store, as well, which seems to be doing pretty well.

A gas station in my girlfriend's hometown recently closed because they couldn't pay for their gasoline loads in the 2 days they were given to pay for them. It turned out that it was impossible to turn over their whole load of gasoline in 2 days in order to have the money to pay for it.

I wonder how widespread of a problem this is going to turn out to be. It has to be pretty bad if Exxon-Mobil is planning on selling their corporate owned and operated stations.

No comments :