U.S. retail sales exhibited a stable performance in June 2021 increasing 0.6% compared with a 1.7% decrease in May, and gas stations and c-stores are benefiting from pent-up demand.
Sales at gas stations rose 2.5% in June 2021 over May 2021 as Americans took to the road, but they also spent more at the pump to fill up. Sales in June were up 37% over June 2020 as per Census Bureau. The census data combines both inside and outside sales for gas stations and convenience stores into one subsector of retail.
Industry experts expect to see continued strong consumer spending through the end of the year but warn that some of the rise in spending relates to higher inflation The cost of living is up 5.4% in the past year, which is the highest since 2008 (Source MarketWatch)
In store sales at convenience stores have rebounded to pre pandemic levels, according NACS CSX sales data ending April 2021. Fuel sales also have largely recovered Finished gasoline supplied, which is tracked by the U.S. Energy Information Administration and is a proxy for supply, was only 1.8% lower for the last two weeks of June 2021 than the same period in 2019.