January 7, 2015

Gas prices drop again

By Chris Erickson

Locally, Farmer’s Union Oil Cenex of Beulah’s General Manager Joe Fouhy said that he hadn’t seen as much of an increase in the amount of total gas sold as the type of gas.
“Primarily what I’ve seen with the price drop is people being able to afford premium grades more than a cheaper grade more often,” Fouhy said. “When prices are a lot more reasonable customers will buy higher end fuel.”
Fouhy stated that he wasn’t aware of any increase in volume of gas being sold right now, which was one of the slower times of the year. That wasn’t necessarily the case last year.
“Volume was up during the holidays, people weren’t as afraid to travel due to prices,” he said.
According to Fouhy, Beulah Cenex had sold about 44,000 more gallons last year by September than in the year before.
“I would say that more people were coming in just because more were on the road,” he added. “Gas was more affordable and they were less likely to stay home.”
Fouhy said one downside was that in some product that remained, like number one dyed fuel, the price for customers remained high as it didn’t turnover - or replenish at a lower price - as fast as other products.
“A product like that doesn’t turn over as many times so we’re stuck with a product that cost us more,” Fouhy said.
In the past week average retail gas prices fell by more than 12 cents in North Dakota, according to GasBuddy’s daily survey of nearly 500 gas outlets in the state.
The fuel analysis website stated that the national average that has fallen 7.7 cents per gallon in the last week to $2.19 per gallon.
 


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