The former President of the Gasoline Retailers Association of New York, Mac Brownson, says the price of gas will continue to fall.
“For the pendulum to swing back the other way, it’s going to take months and months and months. It’s not going to happen quickly,” Brownson says.
Brownson says this is the worst the market has been in his 45-year career.
“When you buy a gallon of gas in New York State you are paying more in tax than you actually are for the price of gasoline,” Brownson says.
According to the industry veteran, the bulk of the money doesn’t go to the vendor or to taxes, but to the distributors.
“If you take the tax and the raw cost of gasoline, the wholesale price, and add them up together it’s about $1.159,” Brownson says. “To make $.85 or $.90 on the gallon is unprecedented in the history of the business and very few people know about this. I think the state and the feds should take a look at this,” Brownson says.
As gas prices continue to drop, a quarterly filing for how many gallons of gas sold will be released in about a month which will give a glimpse of the “stay-at-home” orders impact on the national and county level.