A 75-Cent Gasoline Markup Is Not a Price Under $4.

A large station markup, not a completed price cut, is the new detail in Friday’s gasoline coverage. Tom Kloza, chief energy adviser for Gulf Oil, told CBS News that stations are earning about 75 cents on a gallon, and that a more normal markup is about 40 cents. He said that gap could pull pump prices down even if wholesale markets stay near current levels. That is his judgment, not a measured national margin.

The average itself had not fallen through $4. GasBuddy still put the U.S. price at $4.06 early Friday, Nov. 6, the same figure it reported for Thursday. Patrick De Haan of GasBuddy expects that average under $4 by next week and diesel under $6 by Thanksgiving. Kloza expects gasoline under $4 within about 10 days. Those dates are forecasts.

De Haan attributed recent declines to hopes for an end to the Iran war, more tanker traffic through Hormuz, quieter fall driving, and the switch to winter-blend fuel. CBS reported Brent at $97.44 and West Texas Intermediate at $90.42 by Thursday midday. Those crude quotes are not pump prices, and no grocery or freight cut was shown.

Could the 75-cent station markup mean your next fill-up is already cheaper? No completed cut was shown. The U.S. average was still $4.06 early Friday. The 75-cent figure is one expert’s description of station margins, and any move under $4 is still a forecast.