Petroleum & Petroleum Products Wholesalers Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/18/2024
SIC Codes: 5171, 5172
NAICS Codes: 4247
Chapters Include:
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Excerpt from Petroleum & Petroleum Products Wholesalers Industry Profile

Companies in this industry store, transport, and distribute wholesale petroleum and petroleum products, including liquefied petroleum gas. Major US companies include Equinor, Global Partners, Mansfield Oil Company of Gainesville, Inc, Sunoco, and World Fuel Services.

The global petroleum industry processes about 94 million barrels of crude oil each day, according to Statista. The US and China have the largest refining industries, together accounting for a significant amount of global capacity.

The US petroleum wholesale distribution industry includes about 6,500 establishments (single-location companies and units of multi-location companies) with annual revenue of about $1 trillion. Variations in the prices of crude oil and refined products can cause revenue for distributors to fluctuate significantly.


Demand for petroleum comes mainly from auto and truck use and home heating. Profitability is determined by the efficiency of operations. Most companies are local and operate a single "bulk station" (tank farm), although the large companies may operate a dozen facilities and serve several states. Large wholesale purchasers generally can negotiate bigger price discounts from suppliers and spread the cost of bulk holding facilities over a larger number of gallons. The US industry is highly?concentrated: the 50 largest companies generate about 80% of revenue.


Products include refined petroleum (about 70% of US industry revenue), crude oil (about 20%), and lubricating oil (about 10%). Diesel fuel and heating oil are collectively called "no. 2 distillates."

Operations include storing, transporting, and distributing ...

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