Rivaling the oil companies it does business with, Petro Stopping Centers has posted a 146 percent increase in profit for the third quarter of 2005.
The El Paso Times reported that the company had a profit of $8.59 million in the July through September quarter, up $5.1 million from the same time period in 2004.
According to the Times Edward Escudero, CFO for the company, said that fuel price volatility in the third quarter led to increased fuel profit margins. The company sold 14.2 percent more fuel in the third quarter than it did in the same time period in 2004.
Fuel revenue jumped 60 percent to $431.4 million in the third quarter.
Escudero said that, while fuel profit margins are usually tighter when prices go up, the up-and-down volatility of the market in the third quarter kept profit margins strong.
The company also added four new truck stops in
