If you’re like most people, you probably assume that the gas station chain Speedway is owned by a large oil company like Shell or ExxonMobil. But the truth is far more surprising! In fact, you won’t believe who really owns Speedway Gas…
Our investigation into Speedway Gas ownership will take you on a wild ride through the history of this iconic American brand. We’ll reveal the hidden forces behind Speedway’s success, explore the company’s impact on local economies, and analyze its future prospects in an increasingly competitive marketplace. Buckle up and get ready for a journey you won’t soon forget!
Behind the Scenes: The Secret Owners of Speedway Gas
While it may come as a surprise to many, Speedway Gas is actually owned by the parent company of another major convenience store chain: 7-Eleven. That’s right, behind the scenes, 7-Eleven’s parent company, Seven & i Holdings, is the true owner of Speedway Gas.
But how did this come to be? The story begins in 2017, when Seven & i Holdings purchased the Speedway chain from Marathon Petroleum Corp for $21 billion. The acquisition made Seven & i Holdings one of the largest convenience store operators in the world, with over 70,000 stores across 18 countries. Since then, the company has continued to expand its reach, acquiring more convenience store chains and investing in new technology to stay ahead of the competition.
The History of Speedway Gas
- Speedway Gas was founded in 1959 in Michigan as the Speedway 79 gas station chain.
- The company grew rapidly throughout the Midwest, eventually expanding to over 1,000 locations in 22 states.
- Speedway was acquired by Marathon Petroleum Corp in 2011, and was later sold to Seven & i Holdings in 2017.
The Impact of Speedway Gas on Local Economies
Behind the scenes, Speedway Gas has a major impact on the communities where its gas stations are located. Not only does the company provide jobs and economic activity, but it also contributes to local charities and community organizations.
For example, Speedway’s Fueling Communities program donates a portion of every gallon of gas sold to local charities and nonprofits. In 2020 alone, the program donated over $9.5 million to organizations across the United States.
The Future of Speedway Gas
So what does the future hold for Speedway Gas? With the backing of Seven & i Holdings, the company is well-positioned to continue its expansion and growth. In fact, the company has already announced plans to open new locations and invest in new technologies like mobile ordering and delivery.
Behind the scenes, Seven & i Holdings has big plans for its convenience store operations, and Speedway Gas is a key part of that strategy. As the company continues to innovate and adapt to changing consumer preferences, it is sure to remain a major player in the convenience store and gas station market for years to come.
Uncovering the Truth: The History of Speedway Gas Ownership
Speedway Gas is a popular chain of gas stations across the United States, but who actually owns them? It’s a question that has puzzled many, and the answer is not as straightforward as you might think.
So, let’s dive into the history of Speedway Gas ownership and uncover the truth behind the brand.
The Early Years
- In 1959, the first Speedway gas station was opened in Michigan by Tony Rufe.
- After Rufe’s death in 1960, his widow sold the company to Marathon Oil.
Recent Ownership Changes
In 2018, Speedway was acquired by the Japanese retail group Seven & i Holdings, which also owns the popular convenience store chain 7-Eleven. This acquisition made Seven & i the third-largest convenience store operator in the world.
Current Ownership
- Today, Speedway Gas is owned and operated by Seven & i Holdings, with headquarters in Enon, Ohio.
- The chain has over 4,000 locations across the United States, making it a major player in the gas station and convenience store industry.
So, there you have it – the history of Speedway Gas ownership. From its humble beginnings in Michigan to its current status as a major player in the industry, Speedway Gas has undergone several ownership changes over the years. Now, as part of Seven & i Holdings, it’s poised for continued growth and success in the years to come.
Exploring the Conspiracy Theories: Who Really Owns Speedway Gas?
Speedway Gas is a popular gas station chain with locations across the United States, known for its low prices and convenient locations. Despite its popularity, there are many conspiracy theories surrounding the ownership of Speedway Gas. Some people believe that it is owned by a secret cabal of wealthy elites, while others believe that it is controlled by a foreign government.
So, who really owns Speedway Gas? The truth is, Speedway Gas is a subsidiary of Marathon Petroleum Corporation, which is a Fortune 500 company and one of the largest petroleum refining companies in the world. Marathon Petroleum Corporation is based in Ohio and has been in operation since 1887.
The Marathon Petroleum Corporation
Marathon Petroleum Corporation was founded in 1887 as the Ohio Oil Company. Over the years, it has grown to become one of the largest petroleum refining companies in the world. Today, the company operates a network of refineries, pipelines, and distribution centers across the United States.
Marathon Petroleum Corporation is a publicly traded company with shares listed on the New York Stock Exchange. As of 2023, the company has a market capitalization of over $50 billion and employs more than 60,000 people.
The Conspiracy Theories
- One popular conspiracy theory is that Speedway Gas is owned by a secret cabal of wealthy elites who use the company to control the price of gasoline and exert influence over the government.
- Another conspiracy theory is that Speedway Gas is controlled by a foreign government, which uses the company to undermine the American economy and gain a foothold in the United States.
While these conspiracy theories may seem far-fetched, they persist among some people who are skeptical of large corporations and government institutions.
Despite the rumors and speculation, the truth is that Speedway Gas is a subsidiary of Marathon Petroleum Corporation, a publicly traded company that is subject to strict regulations and oversight. As such, it is highly unlikely that the company is controlled by a secret cabal or a foreign government.
The Power Players: The Top Competitors in the Gas Station Industry
The gas station industry is a competitive landscape, with several companies vying for the top spot. Some of the most influential players in the industry are:
ExxonMobil: With over 11,000 gas stations across the United States, ExxonMobil is a leader in the industry. The company has a strong focus on innovation and sustainability, with a commitment to reducing emissions and investing in renewable energy.
Shell: Another major player in the gas station industry is Shell. With over 13,000 stations worldwide, Shell is known for its high-quality fuels and innovative technology. The company also has a strong commitment to sustainability, with a focus on reducing emissions and developing alternative energy sources.
Other Key Competitors in the Gas Station Industry
- Chevron: With over 8,000 gas stations across the United States, Chevron is a major competitor in the industry. The company is known for its high-quality fuels and innovative technology, with a focus on reducing emissions and developing sustainable energy sources.
- BP: BP is a global energy company with a strong presence in the gas station industry. The company has over 7,000 gas stations across the United States and is known for its commitment to sustainability, with a focus on reducing emissions and investing in renewable energy sources.
The Importance of Strong Competition in the Gas Station Industry
Competition is vital in the gas station industry, as it drives innovation and promotes better prices and services for consumers. With strong players like ExxonMobil, Shell, Chevron, and BP, the industry is constantly evolving and improving to meet the needs of consumers and the environment. By promoting sustainability and investing in alternative energy sources, these companies are leading the way towards a cleaner and more efficient future.
Breaking Down the Numbers: Speedway Gas’s Revenue and Profits
Speedway Gas is one of the largest gas station chains in the United States. With over 4,000 locations across the country, they generate significant revenue and profits every year. Let’s take a closer look at the numbers behind this powerhouse gas station chain.
One of the key metrics for any business is revenue. In 2021, Speedway Gas generated a total revenue of $27.6 billion, making it one of the top earners in the gas station industry. Their profits were also impressive, with a net income of $1.6 billion in the same year.
The breakdown of Speedway Gas’s revenue
- Gasoline sales: Speedway Gas makes the bulk of its revenue from gasoline sales, which accounted for 75% of their total revenue in 202This includes both regular and premium gasoline, as well as diesel fuel.
- Merchandise sales: Speedway Gas also sells a variety of merchandise, including snacks, drinks, and auto supplies. This segment accounted for 21% of their revenue in 2021.
- Other: The remaining 4% of Speedway Gas’s revenue came from sources such as car washes and other services.
The factors behind Speedway Gas’s success
There are several factors that contribute to Speedway Gas’s continued success in the gas station industry. One of these is their strategic location. Speedway Gas stations are typically located in high-traffic areas such as major highways and busy city streets, making them easily accessible to consumers.
Another factor is their focus on customer experience. Speedway Gas stations are known for their clean facilities and friendly staff, which creates a positive impression on customers and encourages repeat visits.
Finally, Speedway Gas’s competitive pricing strategy also plays a role in their success. By offering competitive prices on gasoline and merchandise, they are able to attract price-conscious consumers who are looking for a good deal.
Community Impact: Speedway Gas’s Influence on Local Economies
Community impact is at the forefront of Speedway Gas’s mission, and their presence in local economies has a significant impact on the surrounding areas. As a major player in the gas station industry, Speedway has created a ripple effect on the economy of the communities they serve.
Through their employment opportunities and contributions to the local tax base, Speedway has become an integral part of many communities. Their commitment to investing in the development and growth of local businesses has also helped to stimulate the economy.
Employment Opportunities
- Speedway Gas stations create numerous employment opportunities, from customer service representatives to managerial positions. They are committed to providing job training and professional development to their employees.
- By creating job opportunities, Speedway not only helps to stimulate local economies but also provides job security and stability for their employees.
- With competitive salaries and benefits, Speedway is able to attract and retain top talent in the communities they serve.
Contributions to Local Tax Base
As a business operating in a community, Speedway Gas is required to pay local and state taxes. The taxes they pay go towards funding local infrastructure projects and essential services such as police and fire departments, schools, and parks.
Speedway’s contributions to the local tax base have a significant impact on the community’s ability to fund important projects and maintain essential services. By paying their fair share, Speedway helps to ensure the overall economic health of the community they serve.
Investing in Local Businesses
Speedway Gas recognizes the importance of supporting local businesses and works to invest in their growth and development. They partner with local businesses to provide essential services, such as food and car maintenance, to their customers.
Speedway also provides funding and resources to local businesses through programs such as their Speedway SuperAmerica LLC Scholarship Program. This program provides financial assistance to employees of Speedway and SuperAmerica LLC stores to help them further their education and career development.
Overall, Speedway Gas’s commitment to community impact has created a positive ripple effect on the local economies they serve. Their employment opportunities, contributions to the local tax base, and investment in local businesses have helped to strengthen and grow the communities they call home.
Future Forecast: The Outlook for Speedway Gas and the Gas Station Industry
Gas stations have always been an essential part of our daily lives, but with the rise of electric cars and alternative modes of transportation, it’s natural to wonder what the future holds for the gas station industry. Despite these potential challenges, Speedway Gas remains optimistic about its future prospects.
One reason for this optimism is the continued demand for gasoline, particularly in emerging markets. Additionally, Speedway Gas is taking steps to stay ahead of the curve by offering alternative fuels, such as E85, and investing in electric vehicle charging stations. By diversifying its offerings, Speedway Gas is positioning itself for long-term success in a rapidly evolving industry.
Investing in Technology
Technology has already transformed the way we purchase gasoline, with many customers opting for mobile payment options and contactless transactions. Speedway Gas is at the forefront of this trend, offering a user-friendly mobile app and contactless payment options at its locations. As technology continues to evolve, Speedway Gas is committed to investing in new solutions that will enhance the customer experience and streamline operations.
Environmental Responsibility
- Environmental responsibility is a key priority for Speedway Gas, and the company has made significant strides in recent years to reduce its carbon footprint. For example, many Speedway Gas locations now offer E85 fuel, which is made from a blend of 85% ethanol and 15% gasoline and produces lower emissions than traditional gasoline. Additionally, Speedway Gas has invested in electric vehicle charging stations, which are becoming increasingly popular as more consumers make the switch to electric vehicles.
- Speedway Gas is also committed to reducing waste and increasing energy efficiency at its locations. Many Speedway Gas stores are now equipped with LED lighting and energy-efficient heating and cooling systems, which help to reduce energy consumption and lower operating costs.
The Road Ahead
While there may be challenges on the horizon for the gas station industry, Speedway Gas is well-positioned to navigate these changes and emerge stronger than ever. By investing in new technology, offering alternative fuels, and prioritizing environmental responsibility, Speedway Gas is setting the standard for the future of the gas station industry.
Frequently Asked Questions
Q: Who is Speedway Gas owned by?
Speedway Gas is owned by the parent company Marathon Petroleum Corporation, which is headquartered in Findlay, Ohio.
Q: How many Speedway Gas locations are there?
As of 2021, there are over 3,900 Speedway Gas locations in the United States.
Q: What types of fuel does Speedway Gas offer?
Speedway Gas offers a variety of fuel options including regular, mid-grade, premium, diesel, and E8Some locations also offer kerosene and racing fuel.
Q: Does Speedway Gas offer any rewards or loyalty programs?
Yes, Speedway Gas offers a rewards program called Speedy Rewards. Customers can earn points on fuel purchases and other qualifying purchases, which can be redeemed for discounts on future purchases or for free merchandise.