CHARLOTTE, N.C. —
You're not the only one feeling the skyrocketing prices -- gas station owners are, too.
"Last week the prices went up in one day, 11 cents,” said Dennis Arnautovic with the Pop Shoppe Citgo on Old Pineville Road.
With every passing day, gas prices continue to rise. Average prices in Charlotte have risen almost 14 cents in the past week.
The owners of the Pop Shoppe said Monday they are paying $3.65 for a gallon of regular unleaded but they are only charging $3.59, which means they are losing 6 cents on every gallon of gas they sell when they would usually be making a 5-cent profit.
Arnautovic said to stay competitive, many gas stations absorb the extra costs instead of passing it on to customers.
"For us, keeping the customers happy and trying to be fairly priced in the market, that's the most important thing,” he said.
Keeping a fair price may be a challenge, as experts predict fuel prices to rise another 40 to 60 cents this spring. It also seems no one has a clear reason why. Experts are citing everything from increasing oil prices, refinery closings and rising demand from overseas. While some say the blame lies with speculators on Wall Street.
No matter the reason behind the latest spike, Arnautovic said all they can do is ride it out until things level off.
"We've been there before where the prices were $4 a gallon," he said. "It's scary for the infrastructure, transportation business, everyday consumers -- really, it shouldn't be priced that high."
Arnautovic said winter and spring are when many gas stations lose profits because that's when fuel prices tend to increase the most. On the flip side, the summer and fall are when they turn the most profit because prices are generally lower and more stable.
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