Expanding Convenience Stores Bet on a Future with Gas Powered Vehicles
Even though government regulations push for electric vehicles (EVs) in the future, large convenience stores see gas as the future despite these regulations.
Pennsylvania-based Rutter’s plans to build 50 new gas station/convenience stores over the next five years in Pennsylvania, MarylandThis week, the company announced that it has expanded to Delaware, Virginia, West Virginia and West Virginia. Rutter’s currently has 84 locations.
Of those, 21 Pennsylvania stores have video gaming terminals, making Rutter’s the largest licensed gambling operator in the state that isn’t a casino.
Rutter’s is not the only growing gas station chain.
Texas-based Buc-ee’s announced in February 2022 that it would add a dozen new convenience stores through 2026. The store is known for brisket sandwiches and an enormous number of gas pumps—typically around 100.
New Buc-ee’s are planned in Auburn, Alabama, 2023; Sevierville, Tennessee, 2023; Hillsboro, Texas, 2024; Smiths Grove, Kentucky, 2024; Springfield, Missouri, 2024; Johnstown, Colorado, 2024; and Boerne, Texas, 2025.
According to the National Association of Convenience Stores, (NACS), convenience stores account for approximately 80 percent of motor fuels sold in the United States.
Wawa, a Pennsylvania-based chain, announced that it is on track to open 54 more stores in 2022. It also plans to open up to 40 more convenience shops by 2025 in Florida and Alabama.
Sheetz also planned 20 new Ohio stores over the next five-years in Pennsylvania.
Kwik Trip in Wisconsin, which owns 847 convenience stores according to its website plans to open 3 stores. South Dakota Unter dem Namen Kwik Star.
Future for both Petroleum and Electric Vehicles
President Joe Biden called for electric cars to account for 50 percent of all US vehicles by 2030.
Many states are developing plans for an EV future. These include studies on how to replace the gasoline tax with mileage-based fees and plans for charging station infrastructure.
California, OregonBeginning in 2035, Massachusetts, Washington, New York and New York will prohibit the sale of new gas-powered vehicles.
The majority of the population still needs gas stations to fuel their gasoline-powered vehicles.
“We know that right now, EV sales are about 5 percent of the fleet, so it’s going to take decades for EVs to have a majority share of vehicles on the road,” The Epoch Times was told by Jeff Lenard (Vice President of Strategic Industry Initiatives at NACS),
“There will be plenty of petroleum-powered vehicles that will need fuel. The companies that are opening gas stations are not defying their numbers,” Lenard said.
“They are looking at where they fit in the future, and they see that over the next few years, they will very much be relevant,” He said.
“There are no questions EVs will be a part of the future,” Lenard was also included. “There’s also no question that petroleum will be a part of the future. Fuel retailers are trying to put their bets on where they feel the market is going to be and where they can capture sales.”
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