Pinched at the pump? Pump owners feel your pain.
Skyrocketing gas prices are spelling hard times for Vermont gas station and convenience store owners, who say they’re suffering, too.
Rising prices, as of Thursday, the average price for a gallon of gas in Vermont was $3.50, up from $2.83 a year ago, don’t translate into higher profits or more business for gas station owners. Service-station gas revenues depend on the number of gallons sold, not the price, so no matter how high prices go, a store’s take remains the same.
Experts say diversification is helping convenience store owners everywhere cope with gas prices. Many stores are branching out with deli operations, coffee bars and other items with high profit margins.