Just as we were trying on the idea of a somewhat “normal” spring, war broke out in Eastern Europe. I’m old enough to remember both the ’70s oil crisis and the ’80s collapse of the Soviet Union but young enough to have hoped that we’d never see the likes of such feverish spikes in crude oil prices or another Cold War again. But here we are.
On March 7, 12 days after Russia invaded Ukraine, I paid $4.49 a gallon for premium gasoline, and while at the pump, a clerk was changing the posted prices on the street sign. On February 7, the same 93 octane was $3.49 a gallon. Now, I’m paying over $5 a gallon.
Needless to say, consumers are uneasy about gas prices and the U.S. economy. NACS surveyed drivers in February before the conflict in Ukraine, and consumer sentiment was already pessimistic. The 2022 NACS Consumer Fuels Survey indicates that 84% of consumers are more price sensitive when they buy gasoline, 77% are cutting back on dining out and 67% are limiting what they spend on snacks or drinks. Jeff Lenard, NACS vice president of strategic industry initiatives, digs into the findings to undercover some reasons for optimism in “How the Pandemic Re-shaped Fueling.” A big one: Consumers will drive out of their way to patronize a store that they like, so gas price isn’t their only motivator to pick one gas station over another.
"Consumers are uneasy about gas prices and the U.S. economy."
When it comes to attracting and retaining quality employees and loyal customers, positive environments have an edge. We explore this theme in two features this month. The first, “Happy Workers, Happy Customers,” shares how Sheetz, Love’s Travel Stops and 36 Lyn Refuel Station are intentional about building winning cultures.
Then, don’t miss NACS President and CEO Henry Armour’s Q&A with Jimmy Haslam, chair of The Pilot Company and co-owner of the Cleveland Browns, that kicked off the NACS Leadership Forum in February. Haslam looked back at the history of Pilot Company, where it’s going in the future and key leadership lessons he’s learned over the years, like “getting the right people in the right place,” Haslam said.
Also, read how convenience retailers are making way for beverage innovation in “Battle for the Cold Vault” and how some c-stores are using active crew- served food sampling to get customers excited about their foodservice offers in “Elevate the In-Store Experience.”
If you are reading this column at the NACS State of the Industry Summit, April 12-14 in Chicago, find me and say hello. I’d love to meet you!
Cheers!
