I get asked this question often, and I have tried to answer them before as well, but let’s answer it once again in very much details so we can clear up any and all the confusion, let’s discuss how you can figure out how to calculate your fuel profit precisely and accurately. Welcome to Gas station business 101 podcast, I am Shabbir Hossain, and this is episode 57. This is the show where we discuss how to start, run and grow a gas station business successfully and give you an inside look at many real life case studies so you can follow and be successful in this business. Before we start, one important announcement, my new email server is working beautifully now, so if you are on my email newsletter list, I am sure you already noticed you are receiving my seven very important how to find and buy a gas station email series. If any of you are not receiving these emails, please sign up again, and that should solve the issue, you can simply go to http://gasstationbusiness101.com/subscribe or go to my blog at http://gasstationbusiness101.com and sign on the landing page. You will also receive my free eBook 9 Passive income idea book for signing up. Okay now on to the show…  First take a look at the attached daily fuel price notification that we all receive from our jobber/suppliers. This is the price we pay to buy our fuel. Remember it will vary city to city, state to state and country to country. What I pay for a gallon of regular in Alabama may not be the same as someone buying the same brand fuel in NY City. But a couple of things to consider here, if you look at this fuel prices you will notice there is a difference in price between the regular, Mid-grade and premium right? Well, typically, your mid-grade price should be around 15 cents higher than your regular price, the same way your premium price should be around 50 cents higher than your regular price. So, you need to price your fuel accordingly. Let me show you how.   Price       Regular         Mid-Grade             Premium Cost        $1.89             $2.04                   $2.39 Retail       $1.99             $2.39                 $2.89 Profit:   $.10               $.35                     $.50   (Listen to the show for details on how we price our fuel) Now let’s look at the Excel image of the fuel margin calculation, it will be easier for you to understand this episode if you can see the excel sheet. You can also download this and use it for your business as well. (Listen to show for full discussion on this) To download the Fuel Profit Calculator please click below (In Microsoft Excel Format) http://www.gasstationbusiness101.com/Fuel-Profit-Calculator   If you have any question, feel free to send me an email at [email protected], or you can post it on my Facebook group page by going to shabbirhossain.net Don't forget to sign up for my very important newsletter; you can simply sign up for it by going to http://gasstationbusiness101.com/subscribe In the meantime, if you haven't subscribed to this podcast, feel free to do so, and if you like this show, I would love to see a review from you on iTunes or where ever you download this episode from. Here is a link to my podcast page on iTunes, if you follow this link you can give me a review right on that page. Trust me it will make my day and won't cost you anything other than maybe 30 seconds of your time. https://itunes.apple.com/us/podcast/gas-station-business-101-podcast/ Thank you once again for joining me in this episode; I will see you in the next one. Cheers!