Consumers are boycotting BP gas stations after the oil spill in the Gulf of Mexico. The boycott of BP because of the oil spill disaster is costing small business owners in America millions -if not billions – of dollars.
Because of the Boycott businesses affected by the action are actually small business owners in the US who purchase their gasoline from BP. In all actuality, BP is hurt very little by the boycott. They own only 5% of their 11,100 retail locations in the US, and only get a relatively small amount of payments from the remaining 95% of the locations.
Gas stations earn higher margins on items such as chips, sodas, and candy. Margins on gasoline is very slim, and the amount of money that BP actually gets from retail locations for their retail products is minimal, as is their receipts from gas sales.
Shares of British Petroleum dropped to $29.68 during in yesterday’s trading.
See story on a local business man who is effected by this Boycott!
http://www.metrowestdailynews.com/news
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