Lower prices boost business for gas stations
Plunging gas prices are not just helping Long Island drivers, they're also making an impact at gas stations.
Michael Watt, of the Long Island Gasoline Retailers Association, says the perception that gas station owners are raking it in when fuel prices are high just isn't true.
"They have so little control over the wholesale prices they charge," he says. "It's dictated by what they get from their distributor. Unfortunately, New York state still has the highest taxes per gallon across the country."
With less money to spend on gas, it opens up wallets for gas stations' other profitable ventures, like snacks.
"The real money is in the cupcakes," says Watt. "They want you inside the store buying the coffee, buying the goods in the store, so they try to price the gas as enticingly as they can, so you come in, fill up your tank and then go inside and maybe buy some stuff in the store."