Dem
47
GOP
53
A mysterious chain of two dozen or so "Freedom Fuel" gas stations has popped up around Philadelphia selling gas at $3.47/Gal. Not $3.46, not $3.48, but $3.47. Get it? If you're not quite clear, note that the gas presumably would have sold for $3.45/gal from 2017-21. Since $3.47 is some 40-50¢ below the market price, someone is obviously subsidizing that as a stunt and losing money in the process. Who? Donald Trump said he knows and it is a private company that is just shaving its profit margin. Experts on gas prices say $3.47 is below the cost price, so someone is doing this to make a point, not to make money.
Politico reporters did some digging and found some information about who is behind this stunt. It is a pair of New Jersey businessmen, one of whom is an assistant coach for the Baltimore Ravens NFL team, who are behind this. Former commodities trader Yoni Gontownik and Ravens senior special teams coach Randy Brown are the ones who signed the certificate of incorporation on June 23, a week before Donald Trump began bleating about it on his bargains-for-all social media site.
Brown has called himself a "proud Trump supporter." He has flirted with running for office as a Republican several times. In addition to his football work, he also runs a scammy title insurance business in New Jersey. Gontownik is a former investment director at a global commodities trading firm, Mercuria. He has hosted fundraisers for Republican candidates. A third New Jersey businessman, Shamikh Kazmi, is also linked to Freedom Fuel. He is the licensed operator at 17 New Jersey gas stations, including five in the Freedom Fuel network. Earlier this year he announced a $60 million plan to open a chain of restaurants, called Yum Grills, at gas stations around Philadelphia. So far, only one is open. Kazmi has been involved in multiple lawsuits in the past, including for taking $667,000 worth of fuel and not paying for it. He has also flouted court orders. He also has failed to pay $700,000 in rent on 17 stations he operates in Florida.
This could be a clue how Freedom Fuel sells below the market price: Steal the fuel and don't pay rent on the stations and suddenly the math works. (V)