Oil executives aren’t the only ones making significantly larger profits – the retailers who sell high-priced fuels, at least in Arizona , are also cashing in, according to a new report by AAA Arizona.

According to the association, station owners are collecting about 33 cents per gallon of gasoline sold in the state. That’s an increase of more than 20 cents from the typical profit, which is about 12.5 cents per gallon, according to AAA.

Despite falling wholesale prices, AAA Arizona spokesperson David Cowley told the Arizona Republic that retailers tend to be slow in passing savings and lowered prices along to consumers.

“Nobody wants to be the first guy to start lowering prices if they don’t have to,” Cowley said.

However, oil industry representatives said the increased revenues are part of a more complex situation.

“At any given time during the month, a retailer may be losing money or making money,” Arizona Petroleum Marketers Association Executive Director Andrea Martincic told the Republic. “You have to balance it out over time.”