Here's how we're coping with high gas prices, according to Costco and Walmart

Business Here's how we're coping with high gas prices, according to Costco and Walmart May 29, 202612:57 PM ET Alina Selyukh Drivers fuel up at a Costco gas station in Roseville, Mich. Paul Sancya/AP hide caption toggle caption Paul Sancya/AP Stay up to date with our Up First newsletter sent every weekday morning. In the hunt for cheaper gas, people are going out of their way for discounted fuel at Costco and Walmart — many of them visiting for the first time. Drivers also are now filling up more often, but topping up with fewer gallons at a time. As the U.S. war in Iran continues to drive up gas prices, Costco's gas stations have been selling record amounts of fuel, executives told investors on a call Thursday. In fact, Costco had never sold as much gas as it did between April and mid-May, CEO Ron Vachris said, with stations having to get multiple daily gas deliveries to keep up. People have been willing to drive further and wait in line longer to buy cheaper gas. Sponsor Message "A lot of members are increasing their frequency of visiting the gas station to top up in between what would have normally been a gap between getting the tank to empty because of the concern about what might the gas price be tomorrow," said Gary Millerchip, Costco's finance chief. Politics These swing voters are adding high gas prices into their political calculations At Walmart's gas stations, in recent weeks, people have begun to fill up with fewer than ten gallons at a time, for the first time since 2022. "That's an indication of stress," Chief Financial Officer John David Rainey told investors last week. "We see with our customers that the high-income customer is spending with confidence," Rainey added later, "while the lower-income consumer is more budget-conscious and perhaps navigating financial distress." Business Trump wants a gas tax holiday. There's a much bigger problem looming Similarly, the discount gas-station chain Murphy USA also told investors in late April that it had st...