Phoenix gas station owner losing money to help customers with low prices
PHOENIX (3TV/CBS 5) - The gas station at the corner of 20th Street and Osborn Road is selling gas for $4.39 a gallon as of Tuesday night. The station owner Jaswiendre Singh says he is selling it ten cents less a gallon than what he bought it for.
“Nows not time to make money. We have a lot of opportunity to make money. Right now, it’s time to help people; that’s it. That’s our goal,” said Singh.
Singh says everything is going up in prices right now. The supplier emails him every day, breaking down how much his delivery of gas costs. On Tuesday, the supplier said it was $4.49 a gallon but sold it for $4.39 a gallon.
Singh bought the store in 2007. He says he wants to be a part of the community and tries to help when he can. During the recession in 2008, he also lowered prices below what he bought it for. “Everybody has hardships right now. I’m trying to help the people,” said Singh.
Singh sells about 1,500 gallons of gas a day at his store. Selling the gas ten cents less than the purchase price means he’s losing about $150 a day. He says he is making money by selling items inside the store but doesn’t know how long he can sustain losing money at the pumps. But he will try and cut his customers a break as long as possible.
There is nobody regulating gas station owners. They get prices from the supplier and then decide how much of a profit they want to make off each gallon of gas. But for Singh, he can start making a profit once prices go back down. “Communities help each other,” he added.
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