Rising Gas Prices Turn Costco Into a Fuel- and Retail-Winner
With US gas prices staying above $4 per gallon (recently topping $4.50), Costco’s fuel sales jumped about 3% last month, helping lift overall US comparable sales by 11.7% and drawing more shoppers to the warehouse, where non-gas transactions rose 8% and visits were up 3.8% over the four weeks ending May 3. The combination of higher fuel spend and Costco’s affluent customer base—supported by loyalty programs—illustrates how gas-price dynamics are shaping consumer spending in a K-shaped economy.
