I would suggest that a large number of dealers don't know what FIFO means. When a dealer decides what price to set for gasoline today, that dealer looks at two things. One is what it cost to buy the load of fuel that he has in his tanks today, now. The other is, looking down the street, the competitors' prices. He has a decision to make. If that load is more expensive than the previous one was, unless he makes a retail price change, he will lower his rack-to-retail margin, perhaps down to a level that is uncomfortable for him. It might be comfortable for other dealers, though, I might add, because within a city dealers have varying throughputs that can give them less of a margin need. They can sell more convenience goods, which means they have less of a margin need.
So the level of comfort varies from one dealer to the other even within the same market.
Going back to that dealer, he's going to have to decide whether to keep his price the same--because if he raises it the guys around him might not follow--or bite the bullet and raise the price and hope to heck that the other competitors will if they are feeling the same pain. It has very little to do with accounting, and I really would disagree with Mr. Labonté on that mark.