Gas Stations Hit Skids »
Posted By STONERS 12 months ago in Business & FinanceShuttered gas pumps in Blue Point, N.Y. New York state has lost 200 gas stations during the past year, and the closures stretch across the country.
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mark-stevens12 months ago
Gas stations are going the way of horse and buggy. Exxon is selling off all their stations, and ARCO is selling off all their west coast stations.
Exxon is currently advertising their new electric car battery. Those who got gas expensive, the SUV group now have $65,000 cars that they still owe $40,000 and can't give them away.
Karma does come in all colors!!
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RichFatCat12 months ago
This is a solid business move. First, when gas hits $10 or more per gallon before alternative vehicles are available and affordable, this will ensure a "shortage" and a feeling of panic and urgency that will make you eager and thankful to pay "only" ten bucks a gallon.
Secondly, it locks in solid and rising profit while cutting back "gas" stations and replacing them with other retail outlets. So our costs in adapting to change are not only covered, but our profits are insured!
McCain knows this and has promised tax incentives to help oil companies in the change over period. He understands the needs of business.
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Charlson12 months ago
And he is sooo right. and not politically but factually. It takes a oil crisis, and this is what it's become, to awaken Americans to the fact that we are addicted to oil and need a program to ween us off. As much as these prices hurts me and you, that's what it takes to generate support for alternate energy sources.
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hurr1Comment removed: User banned.
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ningyo12 months ago
the "greedy big oil monopolies" are getting out of the gas retail business..exxon/mobil just sold 1600 of its stations and closed another 400..its just not what they do best and not profitable for them to run..its a very small percent of their business and the most costly to maintain..likely the only chains to stay open will be the state communist state owned ones like lukoil and citgo..which should be just fine with all the lib/dems who dont want to give their money to american corps..but have no problem propping up thug totalitarian regimes
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bruhaha12 months ago
But of course you don't mind Bush and many republicans being cozy with Saudi Arabia, Burma (McCain had several lobbyists on his campaign who lobbied for the military junta in Burma....).....etc.
And it was Bush who looked into Putin's eyes and got a sense of his soul.
So who again is propping up thug totalitarian regimes?
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texangelwings12 months ago
Not only are gas stations hitting the skids around here in small town America, but there are many gas stations that no longer are accepting debt nor credit cards.
I don't know how long the campers and boaters will continue to frequent the lake!
Thanks STONERS!
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Nowalive12 months ago
In my immediate area we have lost 5 Gulf stations recently. We lost the independents like East Coast a long time ago. This is IMHO a way to kill off the competition. Get rid of the independents and the big 3 can make more. On the other hand, we lost a couple Sunocos recently too. Hmmmm.
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miklkit12 months ago
I've been hearing that big oil is raising the leases dramatically. That puts the operator in a pinch, with many of them going under.
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bruhaha11 months, 4 weeks ago
Maybe if you'd pull your head out of your behind, you'd see what's happening.
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walden312 months ago
I've seen a few close in my area too.
I'm still mad about the Exxon Mobil merger. In 1999 when they were trying to merge I was against it because I knew it would hurt competition. Many corners had both Exxon and Mobil stations. That to me seems good for competition. Now, post merger, there is only one station to a corner. Seems like the reduction in competition would lead to higher prices.
Eventually we will have one giant bank, one giant store and one giant gas station to not choose among and our paychecks can be deposited right into our accounts at each.
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SFCGuyW12 months ago
The successful gas stations are those that have made being a convenience store their primary profit maker. Most stations make very little profit from selling gasoline because of restrictions on them via state laws restricting how much profit per gallon they are allowed to make. However, those with well stocked, well designed convenience stores can make a large profit off of the store items.
Like movie theatres, which make their profit off the concession stand food, so goes the new and successful gas stations. Unfortunately, most independent owned stations have very little money to put into converting to and stocking a convenience store. That is why it usually is chains such as 7-11 and RaceTrac that flurish.
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bruhaha11 months, 4 weeks ago
I've heard of some gas stations making less than 5 cents per gallon, especially after the credit card companies take their cut. I know a gas station near me makes 12 cents a gallon.
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david_nwpa12 months ago
On the way home from Niagara Falls, NY to Erie, PA, we counted at least 15 closed gas stations with names like Sunoco, Shell, and BP. All of these stations had been in business no less than five years ago. The gas price signs looked like they had been changed as late as last year. The convenience store business is expensive, and franchises are drying up quickly.
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bruhaha11 months, 4 weeks ago
With gas prices as high as they are, even some of the gas stations with more room for candy, pop, cigarettes, and other convenience items aren't making as much because less people are going inside to purchase things, and those who do aren't spending as much on items other than gas.
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pramol7 months ago
I have been in the gas station business for over a decade. I have owned my own mom and pop stores and leased stores from RaceTrac.
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DO NOT LEASE a store from Racetrac they just like the big oil companies have made there money and the owners are moving onto bigger better projects in Atlanta with the millions they have made over the past decade. They drain as much money from their corporate owned stores and then rename the stores RACEWAY to be leased to a contract operator. They are unable to keep running their corporate owned store on there high volume, low margins basis so they lease out there stores to contractor operators. Soon the operator will notice a sales decline due to the change of brand from RACETRAC TO RACEWAY. He/She will be obligated to keep their lease up-to-date by paying high rent and also using his/her own finances to repair and maintain the building. DO NOT GET STUCK WITH THIS COMPANY. They require 100k intial investment which is not secured, because they have a 30-day termination clause in their leases. They can terminate the lease with a 30-day notice at which point you will lose the 100k investment because nobody is obligated to by back the business from you.-
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pathanjanam5 months ago
I am 100% agree with the comments about racetrac/raceway. Bunch of thugs and just like big oil companies they don't give a rat ass and get you screwd. I know three operators and when a new one comes in they are asked how long would you stay or when are you going to leave the store.
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