world-economy

Costco, Walmart Report Record Fuel Sales as Drivers Seek Cheaper Gas

Elevated fuel prices are pushing motorists to travel farther and wait longer at Costco and Walmart gas stations in search of discounts. Costco reported record fuel sales between April and mid-May, with CEO Ron Vachris telling investors that stations required multiple daily deliveries to meet demand. Finance chief Gary Millerchip noted customers are visiting gas stations more frequently, topping off smaller amounts due to concerns about future price increases. At Walmart, customers began purchasing fewer than ten gallons per visit for the first time since 2022. CFO John David Rainey stated this signals financial stress, with higher-income shoppers maintaining spending confidence while budget-conscious customers navigate tighter financial constraints. Murphy USA also reported attracting first-time and returning customers seeking value. Oil executives have warned that gas prices may climb further.