What’s Fueling This New Development In The Gas Industry? By David Willey, Benzinga
Aventura, FL
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December 27, 2022 08:00 AM Eastern Standard Time
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There is a tension at the heart of the current gas market.
While 134.83 billion gallons of gas were consumed in 2021, the number of gas stations are in decline. Since the 1990s, their numbers have plummeted from over 200,000 nationwide to around 145,000. Part of this is the result of the rise of electric vehicles (EVs), sales of which passed 10% of total car sales for the first time in the last quarter of 2021.
However, with 285.9 million light vehicles on U.S. roads compared with 1 million EVs, gas is still a major part of America’s future. Gas stations still sold over $101 billion in fuel in 2020, and their decline represents a larger disruption in the market. One part of this disruption is the mobile-fuel industry, which delivers gas hassle-free to your vehicle. EzFill Holdings Inc. (NASDAQ: EZFL) is positioning itself to be a leader in the disruption of the traditional, retail fuel industry.
Mobile fuel is a new initiative, resulting from a growing trend of delivery companies that have undercut traditional industries. The on-demand market, which delivers goods and services that traditionally required the customer to go out, swept Uber Technologies Inc. (NYSE: UBER) into the taxi service, DoorDash Inc. (NYSE: DASH) into the restaurant industry and Airbnb Inc. (NASDAQ: ABNB) into hospitality.
Now, companies like EzFill are bringing on-demand gas to fuel the nation. The process is straightforward: The customer downloads the user-friendly EzFill app and creates a profile; whenever they need a refuel they place an order, pin the location of their vehicle and leave the gas door ajar. Miami-based EzFill claims it is the only mobile gas company to fuel three vertical segments of regular consumers, commercial fleets (trucks, rentals, essential services) and specialty vehicles such as heavy machinery and boats.
Filling A Gap In The Market And The Tank Of A Car
Concerns about the environmental impact of gas emissions continue, as just this year a California city became the first to ban the creation of new gas stations within its city limits. The constantly fluctuating gas prices have also contributed to gas station decline, as the uncertainty has squeezed a largely unconsolidated retail fuel market. Major fuel providers will be looking to more streamlined options to the brick-and-mortar model as a way to cut costs.
However, another major factor has been the drive among various industries toward the increasingly popular delivery-as-a-service (DaaS) industry model. DaaS is characterized by customer convenience, giving technology-enabled efficient delivery services for consumers living in a post-COVID world. From Instacart grocery delivery to Amazon.com Inc.’s (NASDAQ: AMZN) 100,000 new drivers and staff, the DaaS model is changing the face of the market.
EzFill is proactive in seeking to lead the market change in the fuel industry. With 3.6 million gallons of fuel delivered and counting, the company is now planning to move beyond Florida and expand into five new states. EZFill already beats the industry average with its margin per gallon, as it competes alongside other companies operating in the mobile fuel market, like Filld and Booster. Uniting convenience with efficiency and a customer-driven model, EZFill is poised to take a lead in the on-demand fuel delivery industry.
What's the future of filling up gas tanks? If COVID taught the market anything, it is that the customer is king, and delivery as a service is the straightest path to the customer’s heart.
To learn more about EzFill, visit its website.
EzFill is a leader in the fast-growing mobile fuel industry, with the largest market share in its home state of Florida. Its mission is to disrupt the gas station fueling model by providing consumers and businesses with the convenience, safety, and touch-free benefits of on-demand fueling services brought directly to their locations. For commercial and specialty customers, at-site delivery during downtimes enables operators to begin their daily operations with fully fueled vehicles.
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