As pump prices for gasoline spin ever higher, a motorist could easily conclude that gas stations are making a killing. This past week, the average price of gas in the U.S. hit a record $5 a gallon, up more than 50% from a year ago, adjusted for inflation. You might think that would allow gas stations to hand out free air for tires, free coffee, and maybe free shoulder massages.
Not so. An exclusive analysis by Barron’s shows that the profits of gas stations are actually down this year. And that holds important implications…
