Ironic economics at the fuel pump

Amid the general gloom and doom in the economy in general, the mood around the gas pump is a bright spot.

But don't think it's just because drivers are forking over less cash. The folks selling the fuel are making more money in the process.

That's the surprising economic reality, according to the Oil Price Information Service.

While many of us suspected oil retailers were cashing in on last summer's $4.29 gasoline, the truth is they're making more money at today's sub-$2 prices.

The reason is that while retail prices have dropped 55 percent since the middle of July, wholesale prices are down 68 percent, leaving more room for profit.

Stations sold less gas at $4-plus than they are at $2-minus, meaning they can make more money per gallon now. Plus with credit card fees, many convenience store stations actually broke even or lost money on the higher-priced gasoline, hoping to make up the loss with snacks and other purchases.

Finding it takes less to fill their tank today, drivers are a little more prone to buy candy bars and sodas, and stores are paying less in credit card fees. And, some drivers who expect prices to continue to drop, buy only half a tank and hit the gas stations more often -- buying more sodas and candy bars in the process.