As gas prices remain elevated across much of the country, more drivers are turning to Costco for cheaper fuel, helping the warehouse retailer set new records for gasoline sales.
According to Costco executives, the company is experiencing the highest demand for gasoline in its 50-year history. Some of the retailer’s 747 gas stations across the U.S. have required fuel deliveries multiple times a day to keep up with customer demand.
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The surge comes as drivers look for ways to save money at the pump. Costco typically makes only a few cents per gallon on fuel sales, allowing it to offer prices that often undercut nearby gas stations.
Company leaders recently told investors that fuel volume at Costco gas stations has reached all-time highs as consumers continue seeking lower-priced options amid rising fuel costs.
Long lines at Costco pumps have become increasingly common in many markets, with drivers willing to wait for the savings.
Meanwhile, gas prices remain a concern for many Americans.
According to AAA, the national average price for regular gasoline is $4.34 per gallon. In Texas, the statewide average sits at $3.84 per gallon, which is also the average price in the Houston area.
Analysts say fuel prices are being influenced by a combination of factors, including seasonal summer demand, refinery maintenance, and global energy market conditions.
For drivers looking to save money, experts recommend using fuel price tracking apps, comparing prices in their area, and taking advantage of membership programs that offer discounts at the pump.