Data points:
- majority of "gas" / service stations in US independently owned
- increasingly difficult to make a profit
- since 2008, XOM has sold more than 95% of ~ 2,000 stations it owned; will sell rest by year-end (I blogged about this some years ago)
- Chevron had 491 company-owned stations at end of 201, down from 1,348 in 2001
- credit card transaction fees cut into margins (currently 15 to 16 cents/gallon)
- 90% of sales now paid with credit cards (something I have opined on in the past)
- five years ago, 75% of sales paid with credit cards
- people don't carry the amount of cash required to fill their tanks
- 30% increase in gas-station defaults over the past two years seen in California, Arizona, and Nevada
- Getty Petroleum Marking filed for bankruptcy in December, 2011
- 80% of service stations have convenience stores; declining in number; margins are 2%
- increased competition from supermarkets and warehous clubs
- in Boston, recent story that it was difficult to find any gas/service station inside the city
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