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When Gas Stations Run Out of Gas

Posted by Charlie Kilo on July 6th, 2008

Consumers aren’t the only ones getting squeezed at the pump. Many gas station owners can’t afford to buy gas either:

Don’t be surprised to see more filling stations with empty pumps. But don’t panic either. There isn’t a gasoline shortage like there was in the 1970s.

What’s happening is that filling stations have had their margins squeezed. Credit-card companies charge by the dollar, pushing up costs per gallon that filling stations pay to work with banks. And forget about sneaking in a few pennies’ worth of profit. Consumers are bargain-shopping like never before. The upshot: Some filling stations either can’t stay in business or are just barely hanging on.

Plenty of filling stations have already gone under. Last year, 3,184 of the nation’s 164,292 gasoline stations closed their doors and went out of business, the biggest drop in five years… 

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