That’s how much gas is going for at the Sumac station on Arkansas 7.
I’m guessing this is the first sub-$2 gas in Union County.
Just for reference, the current rack price for gasoline at Lion Oil is $1.21 per gallon, according to trusted sources.
Add to that 40.2 cents in taxes and you have $1.61. The rest is made up of shipping costs and profit for both the gas distributor and the station owner. In El Dorado, a gallon of regular unleaded is still above $2, at around $2.04.
That leaves .40 cents to be divided up. How much profit are the distributors and station owners earning? I don’t have the information to make that calculation.
Another interesting tidbit is that Lion Oil’s rack prices in El Dorado are some 21 cents higher than prices up the pipeline in Little Rock. Shouldn’t it cost more to pipe the gasoline to Little Rock, and wouldn’t you think that the price for a gallon of regular at the rack there would be higher than it is in El Dorado?
Head over to the Poll Booth to sound off on this issue.
••UPDATE•• Gas is now selling for $1.98 at the Hurryback station across from Shipley’s on North West Ave. Other stations in town will likely follow soon.
For perspective on prices around the state:
Hey, Wildcat fans, bring back some of that cheap Jonesboro gas after Friday’s game.