Georgia drivers couldn’t believe their eyes after gas prices dropped as low as 97 cents a gallon thanks to gas station grudge match
This is what capitalism should be about
Gas prices are at an all-time high; this is hardly breaking news, as most are no doubt aware of the ludicrous cost to top up the tank these days. Prices across the U.S. are sitting comfortably above $4 a gallon, and in some places it’s $5 or more. So you can imagine the disbelief of Georgia drivers when they saw gas being advertised at 97 cents a gallon.
Residents in Powder Springs no doubt thought they were hallucinating, or that they had time traveled, after seeing the price, but it was as real as the cars they were driving. Two gas stations along Marietta Street advertised prices far below the national average, resulting in drivers scrambling to fill up their cars.
People from all over made the drive to the Amoco and Sunoco gas stations to take advantage of the low prices, the likes of which probably haven’t been seen in the US since the 1980s.
A grudge match resulted in lower gas prices
In the mad rush to make the most of the low price, most drivers likely didn’t think about why the gas was being sold so cheaply. The reason for it was competition: both gas stations wanted to outprice the other, no matter the cost.
Management has a strict policy of keeping its prices five cents below the competition. Unfortunately for Amoco, the Sunoco gas station matched every price cut, meaning whenever the former dropped its price, Sunoco would do the same. This resulted in the price for gas at both stations steadily declining as the day went on, going from $2.54 to $1.44, to $1.39, according to a report from Vice.
Eventually, the gas prices bottomed out at 0.97 per gallon, but queues had already formed at both stations well before it reached that. The average price for a gallon of gas in Georgie is currently around $3.70, with the national average being about $4.27 according to AAA. So it’s understandable why people were willing to queue for so long for such a difference in price.
One truck driver told Vice that it normally costs him around $90 to top up his tank, but after topping up at one of the stations on Marietta Street, he was able to top up for just $15.
Eventually, the frenzy became too much to handle, and cops had to step in. Police blocked access to the pumps until the number of drivers thinned out a bit. When they opened them again, those who waited were still able to get gas for $1.14 a gallon. The grudge match between the two gas stations was over by the next day and both prices returned to normal.
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