Well Exxon said today that they are getting out of the Gas Business. I hope Shell and Hess will do the same thing.... Too many people were complaining about the price of gas and it was not worth it... I think the CEOs are worth $400 million a year as long as they make us the investors money.... Now The CEOs will still be making TOP dollar,only thing the senate can do is go after the Mom and Pop gas stations now lol..........
They are selling their gas stations, but they will still be in the business. They will continue refining, etc., but will not be selling the end product to the consumer. You will also still see Exxon or Mobil stations after the sale is complete. About 3/4 of all Exxon stations are branded, which means they are stations that merely pay Exxon Mobil to use their name. Those stations will not be affected by the sales.
Yep but they will not be involed in selling gas.(not worth it for them} There will be stations for a few years until someone takes the name over. I am glad they are out of the business,maybe they will make more money for us lol
It's not the gas retail business oil companies like Exxon are trying to cut down (of course). It's the sale of alcohol and convenience items through company corner stores. They will just continue to do business only through third party vendors to cut down on costs associated with the sale of non gas related items in these stores.
There will still be ExxonMobil stations until some other major change occurs. You will likely see fewer stations than you see now, but at least 75% of ExxonMobil stations will remain ExxonMobil stations through this change. 75% are privately owned stations that purchase the rights to use the Exxon or Mobil name. THESE STATIONS WILL NOT BE AFFECTED AT ALL. It costs Exxon nothing to maintain these stations, yet they still produce revenue. Exxon is still going to be selling gas to these stations, but Exxon Mobil will not be selling you the gas directly. What this means is that we will no longer be purchasing gas directly from the source. I see this as another increase in prices since now two entities that need to profit - Exxon and the reseller - rather than just Exxon.
Umm doesnt the "re seller" now have to make a profit.. ie ...the privatley owned gas stations. Most dont make a profit now from gas but from everything else they sell when u go in to pay.
Exactly my point. The only way that prices won't rise because of this (although we'll never know because there are way too many factors) is if Exxon had to raise prices up enough to offset any money they were losing by running the operation. I don't have much hope though.
Just as long as BP stays in business, according to my fuel cap, BP is the only gas I'm to run in my stang ha ha. I'm sure ford and BP have some sort of deal going for ford to recomend BP fuel only in it's cars.
Wrong. It used to be that way but with gas as high as it is now, they are making HUGE profits on gasoline. They still make money on the concessions and what not, but they also make a pretty penny on the gasoline/diesel sales.
I looked into it more at work and in most states there are laws requiring minimum profit - about 6%. This prevents the non-branded stations from selling at break even prices and undercutting the independantly owned gas stations.
