Sunoco LP announced the completion of the conversion of its 207 retail sites located in certain West Texas, Oklahoma and New Mexico markets to a single commission agent. With this conversion complete, Sunoco’s transition out of the majority of its convenience store operations in the continental U.S. is effectively complete. Sunoco will continue to operate sites along the New Jersey and New York toll roads along with its retail operations in Hawaii.
Under the commission agent model, Sunoco owns, prices and sells fuel at the sites, paying the agent a fixed cents-per-gallon commission. In addition, Sunoco continues to own approximately two-thirds of this portfolio in fee and will receive rental income from the commission agent, who will conduct all operations related to the convenience store and any related restaurant locations.
