One of the US states famous for producing both oil and natural gas is Oklahoma. As a result, compared to other states, the state has a relatively low gas price. As of September 2021, Oklahoma’s average gas price was $2.28 per gallon, according GasBuddy, a website that tracks gas prices in the US. However, the cost may differ according on the store, the brand, and the season.
In relation to brands, one can ponder whether Shell is a gas station owner. Yes, it is the answer. One of the biggest oil and gas businesses in the world, Shell is well-represented in the United States. The business also provides fuel to other gas stations in addition to owning and operating gas stations under its own brand. As a result, Oklahoma and other states may have Shell gas stations.
Let’s now discuss how much it costs to produce one gallon of gasoline. Because it depends on a number of variables, including crude oil pricing, refinery productivity, and transportation expenses, the answer is not simple. However, the US Energy Information Administration estimates that in 2020, the average cost to produce one gallon of gasoline in the US was close to $1.72. Taxes, delivery, marketing, and retail markup make up the remaining cost. Speaking of retail markup, one might be perplexed as to why petrol is so inexpensive at Costco. Gasoline is one of the many things that Costco, a membership-based warehouse club, sells. Due to the company’s low markup—around 15 cents per gallon vs the industry standard of 50 cents per gallon—its gas prices are frequently cheaper than those of other gas stations. Costco can afford to do this because membership fees and sales of other items in its stores account for the majority of their profits. What is the typical markup on a gallon of gas, to finish? The average markup in the US is approximately 50 cents per gallon, as was previously mentioned. The markup, however, may change based on the area, the level of competition, and other elements. Gas stations in urban regions with many of rivals may have a smaller markup than those in rural areas with limited rivalry.
In conclusion, Oklahoma’s oil and gas output accounts for its relatively low gas prices when compared to those in other states. Oklahoma and other states are home to Shell’s petrol stations. The price to produce one gallon of gasoline varies based on a number of variables, but in the US, the average is roughly $1.72. Because Costco only adds a small markup of about 15 cents per gallon, gas is inexpensive there. In the US, a gallon of gas has an average markup of about 50 cents, though this might change according on the area and the level of competition.
Running a gas station may be difficult and demands a lot of effort and commitment. It include managing inventory, keeping equipment in working order, adhering to rules, offering customer service, and coping with changing gas costs. The nearby competition from other gas stations could also be a factor. However, successful gas station management may be a lucrative business with the right planning and management.
Managing a gas station include keeping an eye on everyday activities like inventory control, purchasing supplies, supervising staff, dealing customer complaints, making sure safety rules are followed, and maintaining the station’s appearance and equipment. Additionally, it entails keeping an eye on market trends and rivalry to monitor and modify gas prices. Successful administration of a gas station requires effective communication and organizational skills.