ExxonMobil, the highest-profit company in the world in recent times, is selling its 2, company-owned U. It will cut costs by allowing it to deal with petroleum distributors who run or oversee many of the stations, instead of dealing with individual stations.
The distributor system "is pretty efficient for us," ExxonMobil spokeswoman Premlata Nair said Thursday. Whether distributors will queue up to pay hefty prices to buy the Exxon and Mobil sites is uncertain, however. As a result, the OPIS report speculated, there might be fewer petroleum distributors willing or financially able to buy Exxon and Mobil sites. It wants to unload them as petroleum retailing "continues to be challenging, with reduced profit margins and significant competitive growth," Nair said.
A recent OPIS analysis showed that as gasoline prices have shot up, retailers were earning gas stations that sell exxon mobil gasoline average 3 cents a gallon of gasoline sold, vs. Latest government data, based on April numbers, show a bleaker picture: Low profits at a time of record-high prices might seem backward. It happens because gasoline retailing is so competitive — every station's prices are posted in gas stations that sell exxon mobil gasoline numbers.
Even as their wholesale prices rise with the jumps in crude oil prices, station operators are reluctant to be first gas stations that sell exxon mobil gasoline their corner to go up a penny.
A variety of petroleum marketing studies show drivers will do everything from risky turns across heavy traffic to driving miles out of their way to save a penny a gallon. If a station chases off customers by raising prices, it has fewer potential buyers for the truly profitable items in its convenience store, such as beer, soft drinks and snacks.
Thus, stations raise prices slowly. They also lower them slowly when wholesale prices drop, hoping to make up some lost profits.
Selling the ExxonMobil-owned stations will be done over several years. The change should be largely invisible to fuel customers, Nair said. Stations will display the same signs and sell the same products. ExxonMobil could have trouble selling gas stations. Trump unleashes tweetstorm over Russia investigation. Plane diverted after windshield cracks during flight.
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