Convenience Store News
Convenience stores sell 80% of the fuelsA�purchased today. While motor fuelsA�drive sales dollars for convenienceA�stores, in-store sales drive profit dollars.A�On average, 71% of a storea��s total salesA�are motor fuels, but motor fuels onlyA�account for 36% of profit dollars. ThatA�is because retail fuel margins are veryA�thin, averaging less than a nickel perA�gallon. Retailers know that consumersA�are incredibly price sensitive and willA�go somewhere else to save a few centsA�per gallon of gasoline.
Convenience Store Update:
Key Facts and Figures
- The 123,289 convenience stores that sell fuels in the United States cumulatively sell 80% of the motor fuels purchased in the country.
- Americans travelled 8.038 billion miles per day in 2012.
- There were 156,065 total retail fueling sites in the United States in 2012. This is a steep and steady decline since 1994, when the station count topped 202,800 sites. This count includes convenience stores, grocery stores, truck stops, traditional gas stations and low-volume locations like marinas.
- While about half of the convenience stores selling gasoline are a�?brandeda�? outlets selling a specific refinera��s brand of fuel,
- they are typically not owned by the refiner. Major oil companies own and operate less than 0.4% of all convenience stores in the
- U.S.: Chevron Corp. (415 stores), Shell Oil Products US (38 stores), ExxonMobil Corp. (13 stores), BP North America (3 stores) and
- ConocoPhillips Inc. (2 stores).
- Alternative fueling stations are growing across the country. There are now about 8,000 stations (about 5% of all fueling outlets) that offer public access to alternative fuels in the lower 48 states.
- The average American uses 1.8A�barrels of oil every month, or 0.053A�barrels per day.
- U.S. gasoline demand was 8.73A�million barrels per day in 2012,A�or about 40 million fill-ups perA�day. U.S. gasoline demand hasA�decreased 6.1% since peaking inA�2007.
- For small light duty vehicles (theA�190.2 million passenger vehicles,A�vans, small trucks and SUVs withA�a wheelbase of 121 inches orA�less), the average fuel usage wasA�453 gallons consumed per year,A�which averages out to 1.24 gallonsA�per day or 8.7 gallons per week.
- These vehicles had an average fuelA�efficiency of 23.5 mpg and travelledA�29.1 miles per day.
- Brent spot oil prices averagedA�$111.65 per barrel in 2012. TheyA�are expected to average $105.17 inA�2013.
- U.S. retail (regular) gasoline pricesA�averaged a record $3.63 in 2012,A�and are expected to average $3.44A�per gallon in 2013. On-road dieselA�fuel prices averaged a recordA�$3.97 per gallon in 2012, and areA�expected to decrease to $3.87 perA�gallon in 2013.
- Since the final implementationA�of the Clean Air Act AmendmentsA�in 2000, the seasonal transitionA�to summer-blend fuel has helpedA�gasoline prices rise significantly.
- The average annual increase is 54A�cents.
- Gasoline taxes averaged 48.8 centsA�per gallon in January 2013.
- Nearly three quarters (72%) of allA�transactions at the pump are byA�plastic a�� either debit or creditA�card.
- Factoring in all gasoline sales,A�credit and debit card fees averagedA�5.7 cents per gallon in 2011.
- The gross margin (or markup) onA�gasoline in 2012 was 18.4 cents/gallon, or 5.1%. Over the past fiveA�years, gross margins averaged 16.9A�cents per gallon.
- Motor fuels sales contributedA�to roughly one-third of totalA�convenience store gross marginA�dollars (35.9%).
The U.S. petroleum distributionA�industry includes:
a�? A�144 refineries
a�? A�38 Jones Act vesselsA�(U.S. flag ships that moveA�products between U.S.A�ports)
a�? A�3,300 coastal, Great LakesA�and river tank barges
a�? A�200,000 rail tank cars
a�? A�1,400 petroleum productA�terminals
a�? A�100,000 tanker trucks
a�? A�200,000 miles of oil andA�refined product pipelines