ARKO Petroleum (APC)

The wholesale segment is the main contributor to revenue. Through this business, ARKO Petroleum delivers fuel to independent gas stations, sub-wholesalers, and larger-volume customers, often under cost-plus, consignment, or other contractual arrangements. These structures can help reduce direct exposure to commodity price swings because margins are commonly tied to fees or spreads over product cost, although demand, credit risk, and supply availability remain important operating factors.

The company also serves commercial and government vehicle operators through its fleet fueling activities. This includes proprietary and third-party cardlock sites, where approved customers can refuel using dedicated access systems, along with commissions from proprietary fuel card programs. Fleet fueling gives the company exposure to recurring demand from businesses that rely on transportation, construction, public works, and service vehicles.

A further segment, GPMP, supplies fuel to affiliated ARKO retail sites at cost plus a fixed margin and may charge fixed fees to certain locations. Together, these businesses position ARKO Petroleum as a distributor and service provider within the fuel supply chain, with performance shaped by volumes, contract terms, station activity, and broader transportation fuel demand.