Costco's low gas prices drive record sales amid rising fuel costs and Middle East tensions

Costco experienced record-breaking gas sales in the third quarter as consumers sought affordable fuel amid rising gas prices and geopolitical tensions in the Middle East. CEO Ron Vachris highlighted that ongoing macroeconomic uncertainty pushed consumers to Costco's low-cost gas stations, attracting new members and boosting overall sales. The surge in demand required multiple daily deliveries to keep stations stocked, with gas prices nationwide rising above $4. This trend is expected to increase member loyalty and future store sales as gas station users typically spend more in warehouses.