Brett Dworski
7 min read
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter.
President Donald Trump’s sweeping tariffs on imports hit a roadblock last week after the U.S. Court of International Trade blocked the Commander in Chief’s controversial agenda. However, the Court of Appeals for the Federal Circuit has since allowed the president to continue collecting tariffs while he appeals the trade court’s decision.
These back-and-forth rulings are fueling the confusion and worry that has plagued leaders, businesses and consumers since Trump enacted the tariffs earlier this year. But in the convenience store industry, top executives aren’t too concerned about the impact Trump’s tariffs may bring.
During their companies’ earnings calls last month, Andrew Clyde and Arie Kotler, CEOs of Murphy USA and Arko Corp., respectively, both said that despite tariff uncertainty, neither company is changing its financial guidance and both are well-positioned to perform. Meanwhile, Mark Romaine, chief operating officer of Global Partners, said that aside from some “very short-lived” volatility, the Massachusetts retailer isn’t expecting any tariff impact from a supply, margin, or optimization perspective.
Just days before he left his post as CEO of EG America, John Carey said in an interview with C-Store Dive that he doesn’t see Trump’s tariffs challenging the 1,500 store retailer.
“Prices go up and down all the time in the products we have,” Carey said. “That's why we have a procurement function. That's why we have a marketing function.”
Even some smaller retailers, who have significantly less capital and resources compared to their larger competitors, don’t seem worried.
“I think this is something that's going to ebb and flow a little bit,” said Michael Frisbie, CEO of the 13-location Noble Markets chain. “I don't think it's going to [have] a drastic effect on the c-store industry, honestly.”
But industry experts disagree, emphasizing that tariffs could significantly raise prices across several areas of the business, resulting in higher operating costs that will likely flow down to customers.
C-store consultant Kevin Farley said that the waiting game with tariffs is creating an “unsettled vibe to everything” around the industry.
“At least in my lifetime, we've not seen this before, and so I don't think we fully understand what to do,” he said.
In February, Trump signed executive orders that placed a 10% tariff on oil and energy imports from Canada into the U.S. This will significantly impact oil prices if upheld, since Canada is by far the U.S.’s top importer of crude oil — one of the main ingredients in gasoline. The U.S. imported about $97 billion worth of crude oil from Canada in 2023, outpacing its second-biggest source of crude, Mexico, by nearly $77 billion.
