kam
Honored Contributor (10K+ posts)
Member # 3410
posted
Premium gasoline sells for 38 cents a gallon this week
Posted Aug 14th 2008 4:50PM by Peter Cohan Filed under: Exxon Mobil (XOM)
The Associated Press reports that in San Antonio, TX, premium unleaded sold for 38 cents a gallon.
That's what I call a bargain -- particularly since I considered myself lucky to pay $3.87 a gallon for mid-grade earlier this afternoon.
It turns out that there is a little problem with this 38-cents-a-gallon gas.
It was a mistake in the pump.
AP interviewed Dill Food Market's Manager, Jim Duke, who said that the premium was supposed to be selling for $3.89 a gallon.
AP also reports that WOAI-AM was the original source for this story and it said that "nobody reported the mistake, which apparently started Tuesday afternoon."
It took a while for Duke to figure out what was going on.
AP reports that he noticed "a lot of vehicles were being filled with premium and people were paying at the pump."
He went out to check Wednesday and noticed the price error.
Maybe ExxonMobil (NYSE: XOM) can spare a little of its $41 billion in profit to reimburse Duke for his pump malfunction.
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