• 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.

• 1. 2007 ExxonMobil revenue: $390 billionOn Deadline (USA Today): Exxon dumping retail stations; says no money in selling gas (June 12, 2008)
  2. Income: $40.6 billionOn Deadline (USA Today): Exxon dumping retail stations; says no money in selling gas (June 12, 2008)
  3. Income taxes: $30 billionOn Deadline (USA Today): Exxon dumping retail stations; says no money in selling gas (June 12, 2008)
  4. Stations to be sold: 2,200
  5. Owned and operated stations: 820
  6. Leased stations: 1,400
  7. Branded stations owned by others: 10,000

• 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.

Categories