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.
Tulsa gas prices jumped 13 cents at the pump overnight. Chuck Mai with Triple-A Oklahoma says a false report of a Saudi Arabian pipeline explosion sparked the latest rise, but there are other factors involved, including the volatile situation in Iran, and Wall Street speculation.
Mai says it’s likely prices will increase another 25 or 30 cents a gallon in Oklahoma by summer, but very unlikely they will top $3.80 a gallon here. The price could reach four dollars a gallon in other parts of the country.