Of course the gas stations are making a ton of money! Since the price has been goina ONLY up, they make an extra profit on every gallon in their storage tanks when they raise the retail price. This will continue ony as long as the prices rise. Once they stabilize their profits will stabilize and if the prices start to fall, then they will lose their profits as they have to sell at or below their costs. That is the main reason that prices are quick to rise, but slow to fall.
I don’t think that’s correct. Gas stations are getting squeezed — between the higher gas prices and the higher credit card fees. The oil companies are seeing bigger profits, to be sure. But your corner gas station is more than likely feeling the pinch just like you and me.