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ExxonMobil has announced that they are selling their gas stations, saying rising gas prices and competition from places like Wal-Mart are cutting into the stations' profitability.
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Fast Facts
- 2007 ExxonMobil revenue: $390 billionOn Deadline (USA Today): Exxon dumping retail stations; says no money in selling gas (June 12, 2008)
- Income: $40.6 billionOn Deadline (USA Today): Exxon dumping retail stations; says no money in selling gas (June 12, 2008)
- Income taxes: $30 billionOn Deadline (USA Today): Exxon dumping retail stations; says no money in selling gas (June 12, 2008)
- Stations to be sold: 2,200
- Owned and operated stations: 820
- Leased stations: 1,400
- Branded stations owned by others: 10,000
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Gas Stations Not Profitable?
According to the Associated Press, gas stations are suffering because they cannot raise prices as fast as oil prices are going up. According to analyst Fadel Gheit, the profit margin on stations is 10 percent to 15 percent.The Fueling Station (TampaBay.com): ExxonMobil to shed "unprofitable" gas stations (June 12, 2008) When ExxonMobil sells their gas stations, any buyers will have to carry fuel from the company, and pay a licensing fee to use the name. -
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View All ExxonMobil Sells Gas Stations Questions (783) | Ask a QuestionWhy do gas prices change on a daily basis? (7 Answers)They change because they have to stay competitive with other gas stations. if gas station A receives gas on monday for $2 and gas station B on tuesday for $1.90, ... read moreWhy cant car manufacturers all agree to put the gas fill spout on the same side of the car? (1 Answer)For the same reason they can't agree on a standard for windshield wipers, license plate screws or anything else. Each manufacturer things their design is better... This is the problem ... read moreWhats the name of the song in exxon mobil commercials? (1 Answer)Other people have been asking the same thing. On the comments about it in YouTube, a bunch of people said that it's original song that isn't available for download unfortunately: ... read more
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