OnCue Express CEO Explains Math Behind His $1.99 Gas Price

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OnCue Express CEO Explains Math Behind His $1.99 Gas Price

OnCue Express CEO Jim Griffith spoke with FOX Business Network’s (FBN) Stuart Varney about starting a gas price war in Oklahoma City. Griffith’s gas station is the first station in the country to sell gas for less than $2.00 in years, which Griffith said they were able to do because “we bring new loads to our stores daily, so we adjust a lot quicker than most locations to the changing prices.” He added, “we will watch the market and see what happens” regarding possibly lowering prices further. When asked whether the low prices hurt OnCue’s bottom line, Griffith responded, “I’m not losing money.”

Griffith on starting a gas war in Oklahoma City:

“Well we wanted to give something back to our customers. This is a new location that we just opened and the response from the neighborhood has been great so we thought what better way to put money back in their pockets for Christmas.”

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OnCue Express CEO on whether he’s losing money by selling gas at $1.99/gallon:

“I’m not losing money, no sir.”

OnCue Express CEO on how they can afford to charge lower prices:

“We bring new loads to our stores daily, so we adjust a lot quicker than most locations to the changing prices.”

OnCue Express CEO on whether they will drop prices lower than $1.99/gallon:

“We’ll just watch the market and see what happens.”

OnCue Express CEO on starting the first gas price war in decades:

“I am very happy because our customers love it. I can’t believe the positive responses from them.”

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