Here's how we're coping with high gas prices, according to Costco and Walmart

Costco and Walmart report increased gas sales as U.S. gas prices rise due to the ongoing war in Iran. Costco gas stations sold record volumes between April and mid-May, requiring multiple daily fuel deliveries to meet demand. Many drivers travel farther and wait longer for discounted fuel, visiting more often to top up before tanks empty because of uncertainty about tomorrow’s prices. Walmart customers have begun filling with fewer than ten gallons at a time for the first time since 2022, indicating financial stress. Walmart also reports higher confidence among higher-income shoppers and greater budget sensitivity among lower-income consumers. Murphy USA reports more first-time shoppers and returning lapsed customers who shift toward value-seeking behavior. The average U.S. regular gas price was $4.39 per gallon, up $1.22 from a year ago.

"Costco's gas stations have been selling record amounts of fuel, executives told investors on a call Thursday. In fact, Costco had never sold as much gas as it did between April and mid-May, CEO Ron Vachris said, with stations having to get multiple daily gas deliveries to keep up. People have been willing to drive further and wait in line longer to buy cheaper gas."

""A lot of members are increasing their frequency of visiting the gas station to top up in between what would have normally been a gap between getting the tank to empty because of the concern about what might the gas price be tomorrow," said Gary Millerchip, Costco's finance chief. Drivers are also now filling up more often, but topping up with fewer gallons at a time."

"At Walmart's gas stations, in recent weeks, people have begun to fill up with fewer than ten gallons at a time, for the first time since 2022. "That's an indication of stress," Chief Financial Officer John David Rainey told investors last week. "We see with our customers that the high-income customer is spending with confidence," Rainey added later, "while the lower-income consumer is more budget-conscious and perhaps navigating financial distress.""

"Murphy USA also told investors in late April that it had started to draw more first-time shoppers. "We're also seeing lapsed customers returning to our stores," said CEO Mindy West. "They're changing their behavior and becoming more value-seeking shoppers." The average U.S. price of regular gas on Thursday was $4.39 per gallon, according to AAA."

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