Local & Regional
Wed April 4, 2012
Gasoline price hikes impact other sales
With gasoline prices jumping 13-cents-a-gallon in Tulsa, many people are grumbling. You may be surprised to learn merchants are among those upset with the escalating price.
Quik Trip’s Governmental Affairs Director is Mike Thornbrugh. He says as gas prices go up their inside sales go down. He says people only have a finite amount of money. When prices go up, customers are less likely to buy a candy bar, chips or drink while at the check-out counter.
He calls it a delicate balancing act and they don’t raise prices until the futures market makes it necessary. The price for regular unleaded is now $3.59 per gallon in Tulsa.