Exxon to exit U.S. retail gas business

NEW YORK (Reuters) – Exxon Mobil Corp said on Thursday it is getting out of the retail gas business in the United States as sky-high crude oil prices squeeze margins.

Those branded service stations may be the most public aspect of Exxon’s business, but they account for a small part of the company’s profits.


Out of the roughly 12,000 Exxon Mobil branded stations in the United States, Exxon, the world’s largest publicly-traded oil company, owns about 2,220.

Exxon plans to sell those service stations over several years. They include about 820 stations that it also operates.

Reuters