A Canadian company owns the Race Trac stations in Tx, Ok, and Ar. Kuwait owns the Q8 stations in Europe. Alon Energy the Iraeli Company owns all the gas stations previously owned by Fina and Total(foreign companies) in Texas and OK. Alon also bought refinery in Big Springs which was owned by Fina who bought that refiney from the old Cosden Oil company
I still remember that for many years Fina stations and Total stations were cheapest place to buy gas in DFW, but when Alon took those stations over the price went up, and Race Trac moved into that area and became the cheapest.
I also remember 1998 when, because the asian economy nose dived, the world price of oil collapsed from $25 to $12 and you could buy gasoline for 65 cents per gallon in DFW.
I also remember how the price of crude and gasoline increased in the oughties until I was paying $3.97 a gallon in June 2008. Then the economy began to collapse and oil and gasoline prices collapsed. Crude fell to $44/barrel and I paid $1.63 per gallon in Dec 2008. Of course the economy gradually improved from that point and oil/gasoline went back up
I think that Alon might be the name of the company that just bought one of the Conoco Refineries, along with a pipeline. I had never heard of them. Part of the push to divest the refineries is because of the Obama administration war on big oil. It’s difficult to bring aging refineries up to current standards. Think about it, some of those refineries in Philadelphia had been on the same site since 1860 something.
I just read that Delta Airlines bought the old Conoco Refinery at Marcus Hook, which I believe used to be SUNOCO.
Sorry, that was bad information about ALON.
Delta Airlines did buy the Marcus Hook refinery, though and there is another deal close for the SUN refinery in Philadelphia that would keep that refinery on-line.
The investors are all crying the blues over the new players in the refining industry. It seems that they are all worried that increased refining capacity will decrease profit margins and throw a curve ball into the futures market.
New players in the refining business could really change the industry, players like Delta, refining their own fuel for themselves and all their partners. They got the refinery for a very low price, too. Walmart refining their own gas would be a big deal, as well.