Teamsters Union attempting to "pause" 7-11/Speedway Merger

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storewanderer
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Teamsters Union attempting to "pause" 7-11/Speedway Merger

Post by storewanderer »

Have the Teamsters come out and asked any convenience store mergers to be paused before? I think this is a first.
https://csnews.com/teamsters-call-ftc-p ... e-speedway

I think they have some valid points. In Reno, 7-Eleven gas pricing is awful and it has become worse since the Speedway merger was announced relative to competition. Not long after the Speedway merger was announced I started to notice two 7-Elevens I commute by have the highest price on my commute by a few cents. Previously they were on the high end of the range but still always a couple cents below the Chevron or Shell stations. In recent months, they are higher than Chevron and Shell and yet they sell unbranded fuel. They are a total joke.

I did notice when buying gas at 7-Eleven the last time the pump would not let me proceed to pump gas until I bypassed an option to join 7 Rewards. It also offered a gas discount of some kind of I were to join. What is funny is I am already a member of that program and my phone numbers would not link to an account. I don't know what they are doing as I did uninstall their app from my phone so maybe that outright caused my account to delete. Maybe they marked the gas price up to account for that discount they are offering.

The Teamsters quote about a "double mark up" is also quite interesting and a very good observation given Speedway is being operated by a refiner selling the gas through the refiner-owned Speedway sites. Good integration. The former CEO of Marathon who put the Andevor deal together said the same thing the whole point of owning Speedway was to sell the gas they refine and take the entire profit from the sale just like Marathon has been doing for decades with Speedway in the midwest, very successfully. Unfortunately the activist investors got control and they get to make their profit orchestrating the one time 7-Eleven merger.
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Re: Teamsters Union attempting to "pause" 7-11/Speedway Merger

Post by jamcool »

I know 7-11 owns a fuel distribution company (SEI Fuels) that not only supplies 7-11 sites but also other fuel sellers
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Re: Teamsters Union attempting to "pause" 7-11/Speedway Merger

Post by steps »

7-11 unbranded gas is a joke. The first and only time I purchased gas from 7-11, my car started "mis firing". I got a check engine light about an hour later and checked with my mechanic. He said this is usually caused by "bad gas". I had to get some formula from Autozone to get this fixed. It took about 3 bottles to get the issue resolved. Never again have I purchased unbranded gas from 7-11.
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