Who Owns America’s Gas Stations?

Gas stations comprise one of the most important retail businesses in the country. 93% of Americans live within 10 minutes of one. The vast majority of gas stations are small, locally owned businesses. But in recent years, the smallest chains are being bought up by bigger chains or are otherwise going out of business.


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Who Owns America’s Gas Stations?

[xali]

I am not even American and still watch a lot of these CNBC reports.
good content, also the voice of the narrator is so calm.

[LuckyBaldwin]

The sad part of all this is the loss of gas/service stations. 40 years ago that's where a bunch of young guys, including me, got their starts as mechanics. You worked there for 5 years, gained a bunch of experience, learned a lot from the older mechanics and then moved on to a higher paying job and a new high school grad took your place.
Now young guys that want to be mechanics have to go to 'college' and somehow pay for it while earning no money. So most borrow the money and come out to an entry level paycheck with a mountain of debt to pay off. No wonder auto mechanics is now a dying trade and cars have become disposable instead of repairable.

[AwesomeDwarves]

I wonder if Tesla Cafes will start popping up next to Supercharging stations that aim to sell you food, drink, and provide free Wi-Fi while you wait.

[tylerandrews]

You missed the bathrooms! As customers become more disease and environment conscious, they decide where to stop based on the bathroom quality. That’s how Buc-ee’s does so well. Their bathrooms are 30-40% of their store, and they’re immaculate.

In my area it's middle eastern or Indians.

[coryanntopanga]

The other night after learning that all of my UT classes will be moved online, l had no good reason to go to bed. So with nothing but time and the ID Channel on mute, I laid in bed wondering why I keep seeing the same folks at the gas station and are they the only ones allowed to own one. Then I said I think I want one. Is there a club I'll have to join? Will it be like trying to join a mafia of some sort just to own one? Do I really want one if I CAN own one? And then... CNBC posts this as if from the heavens. Thank you CNBC. You have answered my question.

I don't want one.

[sergiveramartinez]

Literally I'm hooked on these videos. Good content CNBC!

[mahadaalvi]

Title: *Who Owns America’s Gas Stations?*

Me: *Laughs Nervously in Arabic* 😅

[mantiscity]

My family owned the first self server gas station in Florida. It was a nightmare, because there was no cut off. Everyone would go over and not pay. Then no one knew how to pump, so we still had to do it for them.

[lidiarivera]

Sylvanus Freelove Bowser is a pretty cool name

[NinoNlkkl]

In California, Gas stations make a couple of cents per gallon sold, while the state's profit is near $2 in taxes.

[simonhadley]

5:34 Damn lady! I hope you plan on buying that bread!

[MickeyMouse-ulzl]

I kinda thought they might actually tell us "who" owns the gas stations.

[happydays]

I've been delivering gas to convenience stores for 22 years. The successful multi station owners have one store in an outstanding location that constantly brings in high fuel sales and they're able to expand from there.

[viralvidsclips]

as a teen I don't watch news but i like watching this and I enjoy it

[AntonioCostaRealEstate]

According to an owner operator of a Citgo, who used to double as a family owned and operated repair garage, there isn’t much money on gas sales.

About $100-200k of your working capital is tied on an escrow deposit ( that is a 1995 figure, mind you ) to ensure the fuel delivery truck makes its scheduled refills.

The money is inside the store, as far as gross margins are concerned. If you had to pay help to pump gas, you would operate at loss on the gas pumps. Lottery tickets, hot beverages, soft drinks, chips, and other items is where the money is made.

The bigger the store floor and the better the location is ( accessibility, traffic, and visibility ), the more the store will gross in sales. Is that simple.

And then there are the add ones with car wash, drugstore, coffee shop, quick lube.

If you don’t have the land and location, you ain’t making.

[gibsorya]

Great content, but I wish that the video looked into Buccee's when the video started talking about keeping customers at the stores longer. Their stores are always busy, averaging about a few hundred customers at one time throughout the day, while at the same time being able to provide excellent customer service and great food.

[kakarroto]

My 5- year-old nephew told me he and his dad ate shrimp and spaghetti at a gas station. I laughed for hours at the thought of that. Maybe he wasn't lying?

[jamestate]

I'm from Australia and we have experienced this. Nowadays almost all of our petrol stations are owned by a few select corporations and it sucks.


Because of the lack of competition, there is no incentive for one station to lower price. This means that all the stations decide on a set oil price and the customers pay up. The best example of this price-fixing was in march 2020 when oil prices plummeted. Petrol stations pulled in their biggest profits in a decade and it took weeks before the oil savings began tricking down to consumers.

Protect your local gas stations while you still have them

[louismontoya]

I haul fuel for a living. If stores relied on gas to make money they would be out of business. Stores rely on you to go inside and buy marked up fountain drinks and snacks.