Wholesale Gas Prices Jump $0.11
By: Doug Currin, Sr. Reporter / Weekend Anchor
Updated: May 17, 2007
According to arkansasgasprices.com, the highest priced gas station today was the Phillips 66 in Springdale, at $3.29.
Around 4:30 every afternoon - John Terminella, an inventory director for Dandy Oil, gets a list of wholesale prices for gasoline, and today he noticed it jumped 11 cents.
He tells us one reason why the price has to do with the demand, is the 7 inch pipeline that serves Northwest Arkansas. Just a 7 inch pipe supplying 1,000 gallons per minute is the element of demand in this case.
Terminella says that once he gets the notice at 430 of the wholesale price change, he normally would go up to the pipelilne and buy as much gas as possible for the cheaper price, before it goes up at midnight. But lately, gas companies dont wait until midnight. Now, the prices take effect at 6pm, making it harder for local gas stations to get it in time, thus forcing them to raise their prices.
