For several years, Speedway America has been the parent company of Speedway Gas Stations, which operates gas stations in the Midwestern United States. But in 2018, the company decided to sell the business to Triumph Oil in order to focus on its core competency of oil and gas production.
For several years, Speedway America has been the parent company of Speedway Gas Stations, which operates gas stations in the Midwestern United States. The company primarily serves the automobile industry, with over 80% of its stations located in the Midwest. With the acquisition of Speedway Gas Stations by Triumph Oil, can the company thrive in today’s challenging environment? Let’s take a quick look.
In 1904, Frank H. Wills established a chain of gas stations with his brother-in-law, Joe Morris. The two purchased 11 gas stations in the Minneapolis, St. Louis, and Kansas City area. They named the company Wills-Morris and began to grow the business rapidly. The company was eventually acquired by a number of other companies, including Mobil and Amoco. In 1962, Wills-Morris became a subsidiary of Sinclair Enterprise, which operated 23 gas stations in the Midwest.
The product offered by Speedway Gas Stations is standard gas, which is measured by British Thermal Units (BTUs). A ‘BTU’ is a unit of energy that measures the heat capacity of a gallon of gas. The standard gas offered by the company is competent for whatever vehicle you have in your garage. More importantly, it is affordable, which makes it ideal for most people. In other words, you will not break the bank if you get a good fill-up at Speedway Gas Station.
While standard gas is great, it is not the only option the company offers. For those who want to save a little bit of money, they can opt for premium gas, which is sold at a larger markup. In markets where competition is low, Speedway Gas Station is the only option for some shoppers, especially those living in smaller towns. In those areas, competition among gas stations is often nonexistent, and the premium gas helps the company maintain its market share.
As for the vehicles that Speedway Gas Station serves, the company serves most notably the automobile industry. However, the company also services a few other industries, including trucking, aviation, and boating. They also offer repair services, including windshield replacement and car detailing. Lastly, the company employs over 500 people, with over 80% of them working in a non-administrative capacity.
As mentioned previously, over 80% of Speedway Gas Station’s stations are located in the Midwest. But did you know that the company also has stations in California, Colorado, and New York? In fact, the New York Gas Station is the first station in the state, founded in 1934. Additionally, they have a presence in Ontario, Canada. More information about Speedway Gas Station can be found at www.gasskyspeedway.com.
The Speedway Gas Station model is quite mature and is already several years old. Even so, the company continues to operate more than 80 stations in the Midwest. Additionally, they own and operate 24 stations in the Toronto area. As mentioned, one of the distinguishing factors of a Speedway Gas Station is its standard gas, which is sold at a low price. Thanks to this competitive pricing strategy, plus a steady supply from Saudi Arabia, which is the world’s largest oil producer, the company is able to keep gas prices low.
Like many other companies, Speedway Gas Station faces significant competition in its service area. While it is still able to thrive, the industry is becoming more and more crowded.
Where To Buy
While you may have thought that Speedway Gas Station would be located in a major metro area, think again. In fact, the company is still headquartered in Minnesota and still maintains a Midwestern presence. If you are in a small town in the Midwest, you still have access to Speedway Gas Station. But if you are in a large city, you may have to look for a subsidiary station if you want to get your gas needs met.
Thanks to the Covid-19 pandemic, the world changed dramatically. Businesses that were operating five years ago are now struggling to stay afloat, and many gas stations have closed. But as the economy slowly tries to rebuild, customers are returning and looking for ways to save. Luckily, the Speedway Gas Station model is quite flexible, and several companies have decided to purchase the brand and continue to operate their stations. Plus, with oil prices at an all-time low, customers may continue to opt for the standard fill-up at Speedway Gas Station, which is affordable and readily available.