Costco, Walmart and BJ's secret weapon: Cheap gas prices
CNN
Gas prices are skyrocketing, and Americans want to save at the pump. That plays right into the hands of Costco, BJ's Wholesale Club and Sam's Club.
The national gas price average jumped to $3.41 a gallon Friday, according to AAA, 61% higher than the average at the same time last year. The Biden administration has called for an investigation into whether oil and gas companies acted illegally to push up prices.
The spike has pushed more shoppers to rely on these chains to fill up their tanks, say the companies, retail analysts, and fuel experts. Gas prices at warehouse clubs can be as much as 30 cents lower than traditional gas stations, and the chains offer members coupons to use in their stores when they fill up. Gasoline sales at the warehouse clubs are an important part of their business and draw customers inside.
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