<\/p>\n
Today\u2019s soaring gas prices are bad news for consumers. Currently sitting at four-year highs, they\u2019re stretching budgets, pushing up inflation, and sending prices upward nationwide.<\/p>\n
But for wholesale stores? They\u2019ve been a boon.<\/p>\n
It\u2019s true: New data shows that stores like BJ\u2019s Wholesale, Sam\u2019s Club, and Costco are seeing double-digit growth at their store pumps. <\/p>\n
At one point last month, Sam\u2019s even saw a 26% year-over-year jump in gas station traffic compared to a year earlier.<\/p>\n
Higher gas prices send consumers to BJ\u2019s, Sam\u2019s Club pumps<\/p>\n
Gas prices have soared thanks to the war in Iran. <\/p>\n
The average price per gallon of regular gas is now up nearly $1.50 from one year ago, according to AAA. Gas prices are now at their highest point in four years, averaging $4.56 a gallon for regular, $5.43 a gallon for premium, and $5.66 a gallon for diesel.\u00a0<\/p>\n
Those prices are forcing consumers to shift driving habits, with many driving less or even canceling travel plans. <\/p>\n
A new Washington Post-ABC News poll shows that 44% have cut back on driving, 34% have nixed vacations, and 15% have even considered buying an electric vehicle due to rising gas prices.<\/p>\n
More Oil and Gas:<\/p>\n
Early Chevron stock investors now earn 12.1% dividend yieldChevron, Shell ink more surprising Venezuela dealsAAA gas prices reveal a new trend for Americans<\/p>\n
The soaring prices are also pushing drivers to be choosier about where they buy gas. Many, it seems, are heading to wholesale stores, where gas is often heavily discounted, according to new data from Placer.ai, a location analytics platform. <\/p>\n
Costco\u2019s discount, for example, averages about 20 cents per gallon, while BJ\u2019s is a baseline discount of 5 cents per gallon \u2014 plus additional per-gallon discounts of 15 cents to 50 cents, depending on the card you use and how much you spend in-store.\u00a0<\/p>\n
Sam\u2019s Club stations, which include stations at Walmart locations nationwide, offer varying per-gallon discounts, discounts for Walmart+ members, and 5% cash back if you use the right card.\u00a0\u00a0<\/p>\n
And while those discounts sound steep, they seem to be paying off for the three companies. In the last week of April, BJ\u2019s and Sam\u2019s Club saw traffic to store gas stations up 18% over the year. Costco\u2019s was up slightly less at 11%.\u00a0<\/p>\n
It\u2019s a big turnaround for the retailers, as many had seen declining gas station visits at the start of the year. At the end of January, for instance, Sam\u2019s Club gas pump traffic was down 11% from a year prior. BJ\u2019s was down almost 6%.\u00a0<\/p>\n
Sam’s Club, BJ’s, and Costco are seeing more activity as store gas pumps as prices rise.<\/p>\n
Shutterstock<\/p>\n
Drivers are filling up more often, too<\/p>\n
Consumers aren\u2019t just dropping in once, though. Placer.ai\u2019s data shows they\u2019re making it a repeat habit.\u00a0<\/p>\n
More than half of members who filled up at BJ\u2019s and Costco\u2019s pumps in March and April did so at least twice. At Sam\u2019s, it was 43%.<\/p>\n
\u201cRising visit frequency suggests that increased traffic is not being driven by one-time responses to pricing pressure,\u201d Placer.ai reports. \u201cInstead, higher fuel prices appear to be prompting members to consistently shift a greater share of their fuel spend into the wholesale ecosystem.\u201d<\/p>\n
Those numbers are up at all three retailers, with BJ\u2019s seeing the biggest jump in repeat April visitors.<\/p>\n
Related: GasBuddy signals gas-price reset amid shift in Iran War<\/p>\n
#BJs #Sams #Costco #big #gains #soaring #gas #prices<\/p>\n","protected":false},"excerpt":{"rendered":"
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