Behind the Scenes: How QuikTrip Determines Your Gas Prices - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Behind the Scenes: How QuikTrip Determines Your Gas Prices

Posted: Updated:
Tulsa gas prices have been on the rise in the past few weeks. Tulsa gas prices have been on the rise in the past few weeks.

Whether you're filling up or not, you likely glance at the prices when you drive by a gas station.

The day-to-day rollercoaster of gas prices leaves many wondering who sets the prices and why.

KTUL.com asked top ranking QuikTrip official Mike Thornbrugh to help us understand the ups and downs of gas prices in Tulsa.

RELATED: Find the Lowest Gas Prices in Tulsa

The Tulsa-based company sells about 2 percent of the nation's gasoline but consider themselves to have a dominant share of business in Tulsa.

Thornbrugh says gasoline is a complicated, emotional commodity traded 24 hours a day.

"When the price goes down, you get excited; when it goes up, you get upset," he said.

What time do gas prices change?

"It could change at any minute of the day. When you go to pick up a load of gasoline, the price could change."

Thornbrugh says the average store fills its tanks 1.5 or 2 times a day.

"We monitor the tank levels and we know the averages for each store," he said.

Who has the final approval on a gas price change?

This is a question Thornbrugh did not answer directly but he acknowledged that someone "has to coordinate it."

Are all QT prices identical in Tulsa?

"There is little variation between one Tulsa QT store and another," Thornbrugh said.

He says cities like Dallas, Phoenix or Kansas City, Kansas have taxes that explain some cost differences between cities.

How closely do you watch your competitors in Tulsa?

"We are very cognizant and vigilant of what's going on in the marketplace," Thornbrugh said. "The consumer and competitors know Quik Trip is one of the most competitive gas stations in town. We're not going to be beat on prices."

There seems to always be tension in the Middle East. What else drives the price of gasoline?

"There is tension in Washington. D.C.," Thornbrugh said. "The price of crude oil, supply and demand, and pipelines that have gone down are other factors.

"Transportation costs are static. We watch the wholesale market and the competition."

QuikTrip operates 68 stores in the Tulsa area. Nationwide they have 649 stores (as of Feb. 7) in 11 states.

  • NewsMore>>

  • Kangaroo Missing In Vinita

    Kangaroo Missing In Vinita

    With wide open fields in every direction, it's understandable that someone new to Vinita would want to explore."We're just moving in," said Kay Williams. She and her group of eight kangaroos moved in on last Friday, and by Saturday morning…"She goes, I'm down two," said Al Wightman. He just leased Kay the property recently, and when he learned she was bringing kangaroos.."I thought it'd be interesting and pretty cool," he said.She uses them as therapy animals. Cinderella, Sassy, Jasper, Hope,...More >>
    With wide open fields in every direction, it's understandable that someone new to Vinita would want to explore."We're just moving in," said Kay Williams. She and her group of eight kangaroos moved in on last Friday, and by Saturday morning…"She goes, I'm down two," said Al Wightman. He just leased Kay the property recently, and when he learned she was bringing kangaroos.."I thought it'd be interesting and pretty cool," he said.She uses them as therapy animals. Cinderella, Sassy, Jasper, Hope,...More >>
  • Spavinaw Police Chief Accused of Lewd Molestation

    Spavinaw Police Chief Accused of Lewd Molestation

    Spavinaw Police Chief Clarence William Gregory, Sr., was arrested this morning after being accused of lewd molestation.More >>
    Spavinaw Police Chief Clarence William Gregory, Sr., was arrested this morning after being accused of lewd molestation.More >>
  • Casting Call For Movie About Native American Entertainer "Te Ata"

    Casting Call For Movie About Native American Entertainer "Te Ata"

    If you've ever wanted to star in a movie, now's your chance to give it a go.The Chickasaw Nation will hold an open casting call for "Te Ata" next Saturday at the Hard Rock Hotel Casino.All Native Americans are welcome.The movie focuses on the life and legacy of chickasaw performer Mary Frances Thompson.She gained fame around the world in the 20s and 30s for her unique one woman show about Indian heritage.In 1987, Thompson was named the very first Oklahoma Treasure by Governor Henry Bellmon.S...More >>
    If you've ever wanted to star in a movie, now's your chance to give it a go.The Chickasaw Nation will hold an open casting call for "Te Ata" next Saturday at the Hard Rock Hotel Casino.All Native Americans are welcome.The movie focuses on the life and legacy of chickasaw performer Mary Frances Thompson.She gained fame around the world in the 20s and 30s for her unique one woman show about Indian heritage.In 1987, Thompson was named the very first Oklahoma Treasure by Governor Henry Bellmon.S...More >>

Most Popular

Stories
Videos
loading...
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.