Who sets the daily price of a gallon of gas?

Question

Who sets the daily price of a gallon of gas?

Answer 1

Gas companies  due to supply and demand if there is a demand and no supply price goes up.  course that refinery that was on fire Monday  may have something to do with it.

Answer 2

where I work it's Miss Gussie

she gets a phone call from the District manager and then she goes out and changes the numbers.

but we live in the woods so

idk about everywhere else.

,,^._.^,,

Answer 3

Ultimately it is up to the gas station that is selling it, they want to be competitive but they cant sell it for less than they are buying it from the refineries

Answer 4

Daily prices can be set in a number of ways.  A retail manager can determine the price for his station, based on the value of the gasoline in the ground.  It does not matter what he paid for it, it matters what it is worth.  Stations sometimes set their prices based on local competition, which is passive pricing.  Area managers can determine pricing based on how much product they want to move in a given market.

Ultimately, prices are set on the global spot market.  If one country is willing to pay X dollars for gasoline and another country is willing to pay X+1 dollars, well, the global price is now X+1 dollars.

In countries where the government fixes prices, these rules don't apply.  This is why you can get gasoline in Venezuela for 40 cents/gallon.  Hugo Chavez wants happy citizens and if he raised the price to world market levels, he'd be out of office in a week.  The same with China.  

Differences between countries rests mainly on taxation.