ChatterBank2 mins ago
Petrol prices
It seems that our local petrol stations increase their prices during bank holiday seasons. I was wondering if it was to cover the extra wages for staff working during the bank holiday period.
If so are they the only retailers to do this? High Street shops normally have sales on to attract customers during bank holidays.
Or is it just a coincidence?
If so are they the only retailers to do this? High Street shops normally have sales on to attract customers during bank holidays.
Or is it just a coincidence?
Answers
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No best answer has yet been selected by dilligaf. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.I doubt it is cover higher wages but more likely to be extra profit taking. Bank holiday means more motoring and more petrol sold, so they can get away with it. It could be worse, I am told by a friend that it is common practice in the U.S. to put up the pump price on a Friday and drop the price on Monday any weekend and even more at holiday times.
I'd have thought with petrol stations it would be supply and demand. There is only a finate amount of petrol available to a garage to sell over a specific period of time. Over holidays there are more people travelling, so more people wanting petrol, hence the price rises to ensure only people who really need it buy it.
If prices don't reduce after Monday, I'd suspect there would be an eliment of profitering by the garages as demand would have fallen to normal levels.