retail fueling market dynamics + Infrastructure
Keeping Consumers Fueled
Our Industry’s Fueling Story
Our Industry’s Fueling Story
Our industry’s 2021 fuel story began in February with an historical winter storm that knocked out 18 refineries in Texas, followed by the nearly two-week Colonial Pipeline shutdown as the result of a ransomware attack. In September, Hurricane Ida resulted in one of the costliest events for U.S. oil production facilities in 16 years, taking out nearly 80% of oil and gas production in the Gulf of Mexico.
In 2021, the U.S. average retail price of regular gasoline increased above $3.00 per gallon in mid-May and peaked at $3.41 per gallon the week of November 8—a time of year when gas prices have typically been declining, not rising. (EIA) Naturally, consumers want to know what’s going.
By October, five Google search terms were leading people to our website, an indicator of what consumers were searching for and how they were finding an answer:
- Who controls gas prices
- Does the president control gas prices
- Why are gas prices going up
- Why are gas prices so high
- Why are gas prices rising
The answers were communicated in several Convenience Corner blogs, complimented by NACS Daily stories and social media posts:
- Does the President Control Gas Prices?
- Why Gas Prices Are Rising When They Should Be Falling
- Who Makes Money Selling Gas?
For more than two decades NACS has responded to media inquiries, surveyed consumers, created online resources and led discussions at industry events on retail fueling market dynamics. In 2021, we continued to tell our industry’s story—one that is expanding beyond liquid fuels.
Electric Vehicle Infrastructure
In 2021, our advocacy efforts around electric vehicles included several attempts by the White House and Democratic leaders to include EV charging at commercial rest areas in the Bipartisan Infrastructure Bill.
NACS member advocacy led to a positive outcome: Language in the final Infrastructure Bill ensures that retailers are eligible to participate in a program that encourages private sector investment and a competitive market for EV charging.
RESEARCH + INSIGHTS
The U.S. convenience store industry conducts 165 million transactions per day, of which an estimated 30 million are fuels related. Explore the Fuels Resource Center for an insider’s view at how fuel is produced, refined and ultimately sold at convenience stores across the United States.
