News
October 21, 2026 | Publications
Market Pulse: Q3 2026
Rates went up and pump prices climbed, and the biggest buyers are still shopping.
By Steve Griffin, Principal, Downstream Energy Group | October 2026
Convenience store M&A kept moving this quarter, even as rates and fuel prices went up. The Fed raised rates in September for the first time since 2023, and diesel hit its high for the year the same month. The largest buyers in this business kept telling their shareholders they plan to buy more stores. Casey’s went further and said its growth runs on smaller deals. This issue covers what that means for a mid-market owner, using public filings and government data only.
Inside this convenience store M&A report:
- Who’s buying. What Sunoco, Casey’s and ARKO Petroleum told investors about their acquisition plans.
- What changed. The September rate hike, fuel prices through early October, and what both mean for store traffic.
- Margins, costs and tax. Why rising store costs make buyers look harder at how a store is run, and how bonus depreciation can work in a seller’s favor.
- What I’m hearing. Steve’s read on the market from conversations with owners and buyers this quarter.
- Why owners sold this year. Five real deals with the details stripped out, each with a lesson for an owner thinking about what comes next.
Want to know where your business would land in today’s market? Call Steve at 870-336-8149. The conversation stays between us.
