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- 01 Oct
TravelCenters of America financial results: fuel volumes down, margins up
TravelCenters of America announced their second quarter financial results with the following highlights:
1) fuel gross margin was up $0.02 per gallon year over year from $0.172 to $0.192 per gallon
2) total gallons sold was down 4 million gallons to 517 million gallons of fuel
Lower fuel volumes were blamed on conservation efforts on the part of professional drivers and TA’s decision to avoid selling fuels that bring in lower margins. Additionally, TA warned that their customers continue to have improved fuel efficiency.
These results seem to be consistent with industry trends – fuel volumes continue downward, and the margins for this past quarter were quite strong. It will be interesting to compare these results to others in the industry as the coming weeks unfold.