Gas Price Answers! Petromark Owner Speaks

Petromark owner Steve Turner talked with us on the record about the price at the pump and more. This is part of what he had to say when we asked him why some think the price of gas is more expensive in more affluent areas of Northwest arkansas.  We also asked about the pricing of gas and how prices at the pump are set.
    Here is part of what Turner had to say, "I've never priced my retails that way so i can answer how everybody else does it.  I mean if you go to any of our Fayetteville stores typically we're the same price.  You know our Springdale stores are typically the same price.  You know if you have a unit regardless of what your  brand is or your company name.. you know if you've got a very aggressive competitor across the street who either a) Buys better than you do cause you know your larger company............you know there are things called tenders and that's where they go to the refineries and they buy large quantities of gasoline at a discounted rate.  Once again unbranded fuel.  So they could possibly have a five to six cent a gallon buying price less than ours at the branded rack.  And so then let's say you either build across from someone like that or unfortunately they build on top of you then you have a decision to make.   Do you price with them and make less money to keep your gallons? Or do you keep a higher price lose probably thirty-percent of your volume and try to survive that way? And that's the individuals choice, but to say that we price by neighborhood according to class is not true."
    Friday night June first at 6:30, tune in for our special report Gouged at the pump?
A conversation with Petromark owner Steve Turner...hear how he responds to questions about lowering his profit margin and standing up to suppliers and what many people may not know.