RAYNHAM, Mass. -- VERC Enterprises, an independent convenience-store chain, has converted its Raynham Exxon location in Raynham, Mass., to Gulf as part of a previously announced rebranding effort.
“On average, the cost of Gulf gasoline is less than that of Exxon, translating into a savings to customers,” Leo Vercollone, CEO of VERC Enterprises, Duxbury, Mass, told the Raynham Call. “As a company, we constantly strive to give our customer a better cost value for gasoline, and we are pleased to announce that we had the opportunity to switch over to the Gulf brand, which [image-nocss] is the second-leading market share brand in Massachusetts.”
Other locations undergoing the change from Exxon to Gulf are VERC Enterprises stores in Westford, Kingston, Lynnfield, Duxbury, Nobscot (Framingham), Neponset, Berlin, Danvers, Boxboro, Stoughton, Plymouth, Nashua and Allston.
In April, as previously reported in CSP Daily News, VERC Enterprises Inc. said it would convert 14 of its locations from Exxon to Gulf by the end of 2008.
Several factors have prompted the conversion, Vercollone said at the time. In 2000, when Exxon bought the Mobil brand, the Federal Trade Commission (FTC) required them to own either the Mobil or Exxon brand, and that retaining ownership of both could be considered an unfair market share. Mobil made the decision to sell the Exxon brand.
According to Vercollone, there is at least some question as to whether the Exxon brand will even exist in this marketplace two years from now.
The bigger factor, though, he said, was that the Exxon brand is becoming expensive.
Gulf is also a local brand, based in Newton, Mass., and Vercollone said that on average, the cost of Gulf gasoline is less than that of Exxon gasoline, and this will mean savings to customers.
"I think Exxon is a more premium brand, but consumers are looking for the least cost to them," Vercollone told The Enterprise News at the time. "Purchasing gasoline is becoming more of a commodity value proposition."
He said the wholesale price of Gulf gasoline is typically between 2 cents and 7 cents cheaper per gallon than Exxon, a significant difference considering his company only makes about 12 cents per gallon of gasoline it sells to consumers.
Click hereto read CSP Daily News ' previous coverage of the change.
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