Local gas prices remain high as pump prices plunge
While $1.53 per gallon may seem like a bargain gas price, it's really not when compared to other nearby locales.
As of press time Monday regular-unleaded gas could be had for as low as 94 cents per gallon at one business in Neosho, and for less than a dollar at several other Neosho gas pumps. In Poplar Bluff, meanwhile, gas prices were as low as 79 cents a gallon. In Nevada, a mere hour north of Neosho, gas prices are appreciably higher, in the range of 50-plus cents more per gallon.
It was also reported Monday that the price of a barrel of oil went negative. "A benchmark for oil that will be delivered next month went negative, meaning it was essentially deemed worthless, suggesting that people who had oil to sell were willing to pay for it to be taken off their hands," according to the New York Times.
It was also noted by Bloomberg that "there is so much unused oil sloshing around that American energy companies have run out of room to store it. And if there’s no place to put the oil, no one wants a crude contract that is about to come due."
So why are Nevadans paying so much at the pump when compared to their neighbors just an hour to the south? The two primary drivers of pump cost are the price the gas station pays, and local competition.
Other pre-pandemic explanations include:
• Highway and interstate access
• Delivery schedules
• Real estate prices
The Daily Mail reached out to several local gas stations, inquiring why their prices were markedly higher than those in Neosho. None of the employees were authorized to discuss the matter, and instead referred us to the corporate office. The Daily Mail was able to successfully secure comment from the Pilot Company corporate office. In Nevada, Pilot has a truck stop on East Austin Boulevard.
"As a private company, Pilot Company does not comment on its pricing philosophy," the email stated. "There are many external factors that impact gas prices at the retail level, and Pilot Company works to stay competitive in the marketplace."