Following The Gas Money - Hawaii News Now - KGMB and KHNL

Following The Gas Money

Bill Green Bill Green
Mary Church Mary Church

By Kristine Uyeno

HONOLULU (KHNL) - Hawaii drivers know it was just a matter of time.

The average price of gas in Honolulu rises above $3 this week for the first time in eight months.

Experts say it's because of a jump in crude oil prices.

So where is your gas money going?

Gas consultant Bill Green says retailers don't really make a lot of money by selling gas.

"Everybody who touches it gets more out of it than we do," said Green.

He says the biggest misconception is that gas stations get a big chunk of what consumers pay at the pump. In reality, it goes to crude oil suppliers. And of course, that's not all.

"I'm thinking that it goes much towards taxes, both state and federal," said Mary Church, driver.

She's right.

"Those you can identify per gallon runs about 51-52 cents a gallon," said Green.

And a portion of what you pay at the pump, roughly between 10% and 15%, goes towards marketing and distribution costs.

"We actually lose money selling gasoline and that's why a station like ours is a dinosaur. We're obsolete," said Green.

He says the only way to make money is by offering other services. Adding a convenience store and a carwash also helps the bottom line. He says an increase in price, doesn't mean an increase in profit.

  • Hawaii News Now headlinesNewsMore>>

  • High Court: Online shoppers can be forced to pay sales tax

    High Court: Online shoppers can be forced to pay sales tax

    Thursday, June 21 2018 10:32 AM EDT2018-06-21 14:32:03 GMT
    Saturday, June 23 2018 6:35 AM EDT2018-06-23 10:35:24 GMT
    (AP Photo/Jessica Gresko, File). FILE - This April 23, 2018, file photo shows the Supreme Court in Washington.  The Supreme Court says states can force online shoppers to pay sales tax. The 5-4 ruling Thursday is a win for states, who said they were lo...(AP Photo/Jessica Gresko, File). FILE - This April 23, 2018, file photo shows the Supreme Court in Washington. The Supreme Court says states can force online shoppers to pay sales tax. The 5-4 ruling Thursday is a win for states, who said they were lo...

    The Supreme Court says states can force online shoppers to pay sales tax.

    More >>

    The Supreme Court says states can force online shoppers to pay sales tax.

    More >>
  • In reversal, Trump orders halt to his family separation rule

    In reversal, Trump orders halt to his family separation rule

    Wednesday, June 20 2018 11:21 AM EDT2018-06-20 15:21:21 GMT
    Saturday, June 23 2018 6:33 AM EDT2018-06-23 10:33:57 GMT
    A boy stares out of a heavily tinted bus window leaving a U.S. Customs and Border Protection facility Tuesday in McAllen, TX. (AP Photo/Eric Gay)A boy stares out of a heavily tinted bus window leaving a U.S. Customs and Border Protection facility Tuesday in McAllen, TX. (AP Photo/Eric Gay)

    Trump signs executive order to keep families together at border, says 'zero-tolerance' prosecution policy will continue.

    More >>

    Trump signs executive order to keep families together at border, says 'zero-tolerance' prosecution policy will continue.

    More >>
  • Lawyer: No apparent justification for fatal shooting of teen

    Lawyer: No apparent justification for fatal shooting of teen

    Thursday, June 21 2018 8:22 AM EDT2018-06-21 12:22:06 GMT
    Saturday, June 23 2018 6:28 AM EDT2018-06-23 10:28:39 GMT
    (Steve Mellon/Pittsburgh Post-Gazette via AP). Leonard Hammonds II, of Penn Hills, right, points out that a Turtle Creek Police officer has his had on his weapon during a rally in East Pittsburgh, Pa., on Wednesday, June 20, 2018, at a protest regardin...(Steve Mellon/Pittsburgh Post-Gazette via AP). Leonard Hammonds II, of Penn Hills, right, points out that a Turtle Creek Police officer has his had on his weapon during a rally in East Pittsburgh, Pa., on Wednesday, June 20, 2018, at a protest regardin...

    Hundreds of people took to the streets to protest the fatal police shooting of a 17-year-old boy killed just seconds after he fled a traffic stop during a confrontation partly captured on video.

    More >>

    Hundreds of people took to the streets to protest the fatal police shooting of a 17-year-old boy killed just seconds after he fled a traffic stop during a confrontation partly captured on video.

    More >>
Powered by Frankly