Exxon is getting out of retail gas business
Published 5:00 am Friday, June 13, 2008
HOUSTON — ExxonMobil is getting out of the retail gasoline business, a market where profits have gotten tougher because of high crude oil prices. The world’s largest publicly traded oil company said Thursday it will sell its 820-company owned stations and another 1,400 outlets operated by dealers to gasoline distributors across the U.S.
The Irving-based company didn’t disclose financial details but said the transition will take place over a number of years.