Wal-Mart cutting gas prices 10 cents

[ChrisBorg]

Source: boston globe

BENTONVILLE, Ark. — Wal-Mart Stores Inc. is cutting gas prices by 10 cents a gallon for three months to help consumers worried about their spending amid a sputtering economy and busy summer travel season.

“Our customers have told us that high gas prices are a top budget concern, nearly as large an expense to their households as food and groceries,’’ chief marketing officer Stephen Quinn said in a statement.

Wal-Mart is well aware that rising gas prices and other household costs are squeezing shoppers’ budgets, reporting at its annual shareholders meeting earlier this month that shoppers appear to be focusing on groceries and little else.

To help ease consumers’ worries, the world’s biggest retailer said yesterday that customers visiting participating Murphy USA and Wal-Mart gas stations in 18 states through Sept. 30 will receive a discount on all fuel, gas, and diesel buys when they use a reloadable Wal-Mart gift card, Wal-Mart MoneyCard, or a Wal-Mart credit card.



Read more: http://www.boston.com/business/articles/2011/06/30/wal_mart_stores_cutting_gas_prices_for_3_months/

[FLPanhandle]

1. I wouldn't buy from Walmart if they offered gas at $1/gallon

This is just a way to drive local gas stations out of business.

[madokie]

4. And you can bet your bottom dollar that is the reason they're doing this

plus getting more people to get a walmart card would figure high in that too. We used to have an otasco store in every town along with a western auto and both of those are gone because of walmart's always low prices. They proudly claim that but in reality once the competition is gone those low prices evaporate. Walmart is not a good company in any way shape or form.

[christx30]

8. I wonder

if I can use my employee discount with this? I'm starting at the Walmart distribution July 18th. it's an hour away, but I'm not about to turn down $14.55 an hour.

[virgogal]

11. Congrats. A job's a job.

[awoke_in_2003]

12. from my retail experience...

no- employee discounts generally do not apply to sale items or loss-leaders.

[christx30]

16. Well... still

will save on diapers, wipes, shampoo. I know I won't be able to get food with it. But it'll help a lot. Combined with the fact that I'll be makeing $15 an hour after 90 days, and the fact that I'll be keeping my $9 tech support job, I'll finally be able to not struggle so hard to pay bills every month.

[awoke_in_2003]

17. what really sucks...

is that one must work multiple jobs to stay afloat, while people like the Walton kids could never conceivably spend 1/10 of their money. Probably more like 1/10th of 1/10th.

on edit: this is not a rail on you- you do what you have to, and can't always chose where you work.

[christx30]

19. It's going to be hard work...

brick loading trucks in the dist. center for shipping to the stores. I don't mind the hard work.. Four days, 10 hours a day alone in 5 trucks. Not a big deal. What I'm going to hate is never having a day off. I have 2 kids that I won't be able to see because of it. If the 3 days a week job isn't worth it I'll give my two weeks and just do Walmart. Still be making more than I am right now.

[awoke_in_2003]

20. "What I'm going to hate is never having a day off"

been there, done that my friend. It sucks big time. But when I did it, I had a goal- to finish college. I got lucky, and got a good job when I was done. I hope you have similar luck.

[Rhiannon12866]

2. Yes, but only in 18 states, not CA or the Northeast, where prices are highest. Article:

Wal-Mart's tricky gas ploy

Saving 10 cents a gallon sounds great until you consider what you'll give in return.

At a time when gas prices still top $3.50 a gallon in many states, Wal-Mart (WMT) offers what sounds like a great deal: Save 10 cents a gallon all summer long.

Just what we need, with months of road trips ahead of us. And it's just what Wal-Mart needs, too, as it tries to reverse its worst U.S. sales slump ever.

Unfortunately, the discount is good only at Murphy USA and Wal-Mart gas stations in 18 states, mostly in the heartland (full list here). California and the Northeast are out of luck.

So if you're in the right state, is this a good deal? As it turns out, what Wal-Mart gets in return more than compensates for any loss it takes from the discount. Let's go over what Wal-Mart receives from this promotion:

http://money.msn.com/top-stocks/post.aspx?post=f008b56a-cf26-45fb-9e35-75db4e752a00

[leveymg]

3. Not awfully generous of them, given that market prices will likely drop far more than .10.

:eyes:

[Anakin Skywalker]

5. THANK YOU, WALLYWORLD! OH, THANK YOU! THANK YOU!

It's not even a full bone, but a bone shard to all the peons that's being tossed.

[joeglow3]

6. Local stores do that all the time here

Plus, our credit card gives us 5% cash back on gas purchases. I am sure they make more money doing this, as they don't have to pay credit card fees when people use Walmart gift cards.

[Kingofalldems]

7. Well that is pretty serious.

[Roy Rolling]

9. Big Deal...

Wholesale gasoline futures peaked at $3.35 a gallon a few weeks ago and have beem as low as $2.75 (around $3.00 a gallon today)

So they cut 10 cents while their cost has gone down 35-60 cents. I'll believe has value if their prices today are 35 cents below their peak of a few weeks back.... If not, they are just giving back when their cost has gone down.

[onethatcares]

10. viola, walmart can reduce gas prices at whim.

does the reverse apply?

I noticed the price decline recently and think that supply and demand has a lot to do with it. Ain't no one gonna drive their old cars if they can't afford the gas. No demand, someoe gotta do something for the balance sheet and you know it's not gonna be the speculators.

[russspeakeasy]

13. A shithead employer...if they could sell sweat, they would.

[BlueJazz]

14. Big Fucking deal. If I fill up my truck (Ranger), I'll save a HUGE $1.35....in a month that's..

...almost 6 whole dollars!!!

Wow "Pack up the baby honey, We're going shopping"!

6 bucks a month isn't going to help very many households....and of course, WalMart acts like they're saving the world.

[high density]

15. Wow, how kind of them!

My credit card gives me 5% back on gas, which at our current prices of about $3.70 is $0.185 per gallon.

[glinda]

18. Set up. Everyone has to raise while oil buddy Walfart lowers. It is a sham.