Data: National Petroleum News, NACS; Chart: Axios Visuals
The number of gas stations has been in steady decline for decades, and the volatility in gas prices — along with the rising popularity of electric vehicles — will squeeze them even further.
The big picture: President Biden is accusing gas stations of profiteering from high oil price, and at least four California cities have banned new stations. But most gas stations aren't owned by big multinational corporations, and the ups and downs of fuel prices is likely cutting into many of their bottom lines.
