OAK BROOK, Ill. -- Just as many retailers say their in-store sales are the same or better than a year ago as say rising gasoline prices have taken a toll on those sales. That's just one of the conclusions of a Fuel Price Focus survey of convenience store retailers conduct by CSP Daily News.
Fifty percent of the 182 respondents to the survey conducted last week said their in-store sales are about the same (32%) or up (18%) from the previous year, despite gasoline prices and the media hubbub that surrounds them. On the other hand, the other half of respondents said [image-nocss] they've seen in-store sales drop a little bit (39%) or substantially (11%).
CSP undertook the survey to poll retailers on just how much they've been affected by gasoline prices hovering at a national average of $2.89 per gallon of regular unleaded, according to AAA. According to the poll results, regular unleaded gasoline prices topped the $3 mark in the markets of 46% of respondents some time this past spring. The result for most (72%) was a drop in gasoline volume. Six percent reported a volume drop of nearly half, while 66% said they saw a minor change.
Similarly, 70% of respondents said their gasoline margins have dropped since this time last year, 35% by a penny or two, and the other 35% substantially. Another 16% said margins were stable, while 14% said they were higher by a penny or two (11%) or substantially higher (3%),
That's made for a pretty even spread among respondents of just how much they're making per gallon. While NACS' State of the Industry data showed the industry average margin for 2005 was 16.6 cents per gallon (CPG), the Fuel Price Focus survey shows those numbers have dropped substantially. Only 18% of survey respondents said they are getting 13 cents or more per-gallon margin right now. Another 18% said they were earning 11 or 12 CPG, 26% said 7-10 CPG, 21% said 4-6 CPG, and 17% said 0-3 CPG.
Finally, a slim majority (55%) of survey respondents said they have seen an increase in the number of gasoline theft drive-offs compared to a year ago. Twenty-four percent said they've seen quite a bit more, 31% said they've seen only a few more, 33% said it's about the same, and 12% said they've had fewer drive-offs.Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.