Pain at the pump is turning to change at the pump as gas prices in Mississippi dip below $2 a gallon, but lower gas prices mean big profit losses for locally owned and operated gas stations like Sheriff's 66 on Terry Road in Jackson.
Sheriff's 66 owner Dan Sheriff, who has been running the gas station with his father and brother for six years, showed FOX 40 News Friday his receipt for more than 6400 gallons of regular gas at $3.33 a gallon. Sheriff said he is forced to sell his gas at $2.24 a gallon now, 30 cents more than his corporate competition across the street ringing in at $2.00 and $1.95 a gallon.
However, even with the higher price at Sheriff's 66, the business is still losing a buck a gallon, putting his business in jeopardy.
"If I'm buying gas for $2 a gallon, and the gas is steadily dropping to $1.80, $1.60, I'm steadily losing on my gas," Sheriff said. "I'm not gaining anything so I might as well stop selling gas. Just stop selling it. Because I'll be going in the whole."
Sheriff said the dip in gas prices has caused him to lose at least 50 percent of his customers, making it more difficult to get rid of the high-priced gas he bought in August. Earlier in the year, Sheriff said he made at least $1000 a day in gas sales, but now he said he is lucky if he makes $200.
Sheriff's 66 customer Willie Jones said he understands Sheriff's plight, and will keep coming by to fill up no matter the price.
"I'll pay the extra couple dollars just to get the service because the service is most important to me, Jones said.
All customers do not see it Jones' way.
"[Because] our gas is $2.24, it's hard to get custumers to come in because they want to know why the gas is cheaper down the street," Sheriff said. "I understand that, but we're taking a big loss on it."
"They looking at the prices and they aint gonna come by because they say they can get it cheaper somewhere else," Sheriff continued.
Sheriff said his higher gas is not price gouging, especially because he is not making any profit on gas nowadays.
Sheriff said the only way his business can survive is from his other services, like oil changes, tire pressure checks and selling new and used tires. But Sheriff said his profits have dipped so low that he cannot afford to purchase new tools, and is forced to borrow tools from Auto Zone.
Sheriff has even had to raise the price of snacks and drinks to survive in the dwindling economy.
Until gas prices rise again, Sheriff's pain at the pump will continue to put a dent in his wallet.
"It's like shooting dice," Sheriff said. "You're gambling with it."
