Statewide, Iowa – The leader of the Ankeny-based Casey’s convenience store chain says he’s not worried at this point about gas sales despite what is happening with Iran.
Casey’s CEO Darren Rebelez says this is similar to when Russia invaded Ukraine, and oil prices were impacted and gas costs went up.
Rebelez says the gas margin, or the amount they make on each gallon, tends to increase.
He adds that is what they saw the last time a war impacted oil and gas prices.
Rebelez says they are also not worried right now about people cutting back on how much gas they buy.
Rebelez made his comments on a conference call to discuss their third quarter results. The company reported net income for the quarter was up 49 percent compared to last year at just more than $130 million. Total fuel gross profit for the quarter was up 15 percent with a fuel margin of 41 cents a gallon.
KIWA Staff Photo
