Costco's Gas Stations Set All-Time Records As Drivers Hunt For Lower Prices

Costco’s gas stations set all-time records as drivers hunt for lower prices. The company reported a strong third quarter with revenue of $70.53 billion, comparable-store sales up 9.8%, and adjusted comps up 6.6% excluding fuel and currency effects. Digital sales rose more than 20%, while overall traffic and average transaction values climbed. Fuel volumes reached record highs as inflation and geopolitical tensions pushed more members to use Costco stations. In addition, membership trends remained robust, with total paid memberships at 82.9 million and executive memberships up 9.6% to 41.2 million, while membership revenue rose about 11%.

Costco’s stock traded flat ahead of the results, and CFO Gary Millerchip noted continued engagement despite slower member growth, supported by strong in-store and digital performance.