Costco says it saw ‘record-breaking’ gas volumes amid rising prices Costco reported record-breaking gas volumes in its fiscal third quarter, driven by rising fuel prices and customers seeking cheaper options. This surge in gas sales also attracted first-time members, contributing to overall net sales growth and beating revenue expectations. The company also expects to pass on tariff refunds to its members, reinforcing its commitment to low prices.

• Costco experienced record-breaking gas sales volumes in its fiscal third quarter.
• Rising fuel prices amid the war in the Middle East drove customers to seek cheaper gas at Costco.
• The company saw an increase in first-time members attracted by its gas stations.
• Costco reported net sales of $69.15 billion, an 11.6% increase year-over-year.
• Net income for the quarter was $2.19 billion, or $4.93 per share.
• Paid memberships grew by 4.1%, with significant traffic increases on its website and app.
• Costco is submitting tariff refund claims and plans to return these funds to members.
• The company aims to be the first to lower prices and the last to raise them.