Fuels
Par Pacific to exit Colorado natural gas investment for $146M
Par Pacific Holdings announced on Tuesday that it has agreed to sell its 46% non-controlling stake in Laramie Energy, a natural gas exploration and production company in western Colorado. The transaction stems from Laramie's agreement to sell most of its assets to an undisclosed buyer for $485 million. Par Pacific expects to receive approximately $146 million, with the potential for an additional earn-out payment of up to $30 million. The deal is expected to close by the end of 2026.
Costco opens first standalone gas station
Costco officially opened its first standalone gas station in late June in Mission Viejo, California. The 17,185-square-foot facility with 40 fueling positions is member-only and priced significantly below the local average, likely pressuring nearby convenience stores. A second standalone station is in development, but broader expansion plans remain unclear.
7-Eleven, Circle K named in lawsuit over using AI to boost gas prices
Several California residents have filed a lawsuit in federal court, accusing retailers such as 7-Eleven, Circle K, and BP of using an AI fuel pricing algorithm developed by Kalibrate to implement an "illegal algorithmic price-fixing scheme," causing gas prices in California to rise by an average of about 6 cents, with increases of up to 30 cents in some areas. The plaintiffs argue this violates California antitrust laws and Assembly Bill 325.
What 6 fuel and convenience leaders are saying about the Iran war
Since the United States and Israel attacked Iran in February, the Strait of Hormuz has remained restricted, affecting global energy supply and prices. Executives from six fuel and convenience store retail companies—BP, Global Partners, Murphy USA, Chevron, Sunoco, and Sinclair Oil—shared their perspectives on supply disruptions, low inventories, rising costs, and future uncertainty during Q1 earnings calls.
Inside Kroger’s fueling empire
Although Kroger is renowned for food sales, it has quietly established a fueling empire that rivals top national convenience store chains. As of January 31, it operated 1,731 gas stations, exceeding well-known competitors such as Wawa, QuikTrip, and Murphy USA, and far surpassing other grocery chains. The fuel business is deeply integrated with membership programs, becoming a key tool for driving traffic and loyalty.
Gaubert Oil expanding fuels business
Gaubert Oil announced the signing of a letter of intent to acquire Buffalo Services' wholesale and transport division, including the unbranded commercial fuel distribution business and two fuel terminals. The transaction amount was not disclosed, and employee retention plans have been clarified.
Costco’s first standalone gas station to open by late June
Costco's first standalone gas station in the United States is expected to open to the public in Mission Viejo, California, before the end of June. The station covers 17,000 square feet, has 40 fueling positions, and is open only to members. Costco is also building another standalone gas station in Hawaii. If this model succeeds, it could pose broader competitive pressure on the convenience store industry.
The Iran war is spiking gas prices. Should c-store retailers worry?
The Iran war has driven US gasoline prices to their largest weekly increase since the Russia-Ukraine conflict in 2022, drawing attention from convenience store and fuel retailers. Analysts note that short-term volatility may benefit fuel distributors, but long-term inflation risks cannot be ignored.
Costco building another standalone gas station
Costco is building a standalone gas station in the Kapālama Kai area of Honolulu, Hawaii, expected to be completed in 2027, featuring 40 fuel pumps. The project is part of Kamehameha Schools' ʻŌlauniu mixed-use development plan, located about one mile from the existing Costco gas station.
Arko Petroleum goes public
Arko Corp. announced that its wholesale fuel distribution business, Arko Petroleum Corp., has completed its initial public offering (IPO), raising approximately $200 million. The company rang the opening bell at Nasdaq on Thursday, officially operating independently. Arko Petroleum distributed 2 billion gallons of fuel across more than 30 states last year and plans to use the proceeds from the listing to advance its 'dealerization' strategy, converting some company-operated convenience stores into wholesale customers.