Costco is experiencing the highest gas demand in its entire history as fuel prices across the tri-state area continue to climb. The wholesale giant reports that tanker trucks are replenishing some of its gas stations multiple times a day to keep up with the unprecedented demand from price-conscious consumers.
Gas prices across the tri-state area are running near $4.50 a gallon and continue to climb from levels seen just a month ago. New Jersey remains the cheapest option at $4.46 on average, followed by New York at $4.57 and Connecticut at $4.59. All three states are down slightly from last week but up significantly from where prices stood just 30 days ago.
The significant price gap between Costco's gas stations and regular fuel retailers is driving a surge in new membership applications. Consumers are discovering that the annual membership fee pays for itself quickly through gas savings alone, with some members saving close to two dollars per fill-up compared to neighbourhood stations.
The record demand at Costco pumps reflects the broader impact of the Strait of Hormuz crisis on American consumers. Iran's continued closure of the critical shipping lane has disrupted oil supplies worldwide, pushing fuel costs steadily higher and putting pressure on household budgets across the country.
The back and forth between the US military and Iran continues to fuel uncertainty in oil markets. Over the weekend, the US bombed radar and drone sites in Iran, and Iran fired back launching ballistic missiles at US troops in Kuwait. American forces shot down both missiles with no troops hurt.
President Trump is pushing for stronger terms on Iran's nuclear programme and a pledge to reopen the Strait of Hormuz. Iran says its rights must be secured before any agreement moves forward, keeping the prospect of lower gas prices uncertain for American consumers.
For many families in the tri-state area, the rush to Costco gas stations has become a weekly ritual as they seek any available relief from rising fuel costs. The record-breaking demand underscores how deeply the Middle East conflict is affecting everyday American life, from the gas pump to the grocery store.