Reid Petroleum
Reid Petroleum is a family-owned independent marketer of transportation fuels founded in 1922, supplying branded and unbranded fuel to dealers and commercial fleets across New York, Pennsylvania, and Ohio. It also operates the proprietary Crosby's convenience store chain with 80+ retail locations in NY and PA.
- Company typePrivate
- Founded1922
- HeadquartersLockport, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Reid Petroleum does
Reid Petroleum Corp. is a privately held, family-owned independent marketer of transportation fuels founded in 1922 in Lockport, New York. The company supplies branded (Exxon, Marathon, Mobil, Shell, Sunoco) and unbranded fuel to independent dealers and commercial accounts across New York, Pennsylvania, and Ohio, moving millions of gallons weekly through its logistics and distribution network. Reid operates two primary go-to-market motions: (1) wholesale fuel supply and retail fuel management — offering turn-key fuel facility development, guaranteed monthly per-gallon commission programs, and a Gulf hybrid brand option — to independent fuel marketers and convenience store operators; and (2) commercial fleet sales — direct fuel deliveries to factories, trucking companies, school districts, and local governments, supplemented by fleet credit cards offering discounts up to 18 cents per gallon.
The company's underlying technology centers on operational logistics: an internet-based remote tank monitoring system that tracks fuel levels 24/7 and schedules deliveries to prevent run-outs and over-fills, an inventory management system providing tank-level reporting and alarm notifications, and 24/7 service technician dispatch for equipment maintenance and environmental compliance (EPA, NY State DEC, PA DEP). Reid's revenue model combines wholesale fuel margin (transaction-based, sourcing from multiple refiners), retail fuel management commissions, commercial fleet fuel sales, in-store merchandise and prepared food sales through the Crosby's convenience store chain, professional services for fuel equipment installation and repair, and one-time real estate transactions on its property portfolio.
Reid operates the proprietary Crosby's convenience store chain through its wholly-owned subsidiary Reid Stores, Inc. (established 2002), which had grown to 80+ stores across New York and Pennsylvania by 2019. The business has expanded consistently over a century through organic growth and a sustained acquisition roll-up strategy targeting independent fuel businesses and convenience stores. As of 2019, the company is led by third-generation CEO Paul Reid, has 501-1000 employees, and operates from an expanded Lockport, NY headquarters.
Reid Petroleum firmographics
Firmographics- Name
- Reid Petroleum
- Legal name
- Reid Petroleum Corp.
- Website
- https://reidpetroleum.com
- Company type
- Private
- Founded year
- 1922
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Reid Petroleum is a family-owned independent marketer of transportation fuels founded in 1922, supplying branded and unbranded fuel to dealers and commercial fleets across New York, Pennsylvania, and Ohio. It also operates the proprietary Crosby's convenience store chain with 80+ retail locations in NY and PA.
- Ownership category
- akta.pro rank
Reid Petroleum industry classification
Industry- Product category
- Fuel Marketing and Distribution
- NAICS
- Gasoline Stations (4571), Gasoline Stations with Convenience Stores (45711), Fuel Dealers (45721), Other Gasoline Stations (45712)
- SIC
- Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Retail-Auto Dealers & Gasoline Stations (5500)
- akta.pro primary industry
- Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB)
- akta.pro secondary industries
- Retail Service Station Operations (Company-Owned & Dealer-Operated) (EUALAIAA), Convenience Retail & Foodservice at Forecourts (C-Store/QSR) (EUALAIAE), Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD), Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK)
Keywords
Where Reid Petroleum is headquartered
LocationHeadquarters
- HQ city
- Lockport
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Reid Petroleum business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Wholesale Fuel Sales: Reid purchases fuel from refiners (ExxonMobil, Sunoco, Shell, Marathon, Gulf) and distributes to retail outlets and commercial accounts. Revenue generated from fuel margin between wholesale acquisition and retail selling prices.
- Retail Fuel Management (Guaranteed Commission): Dealers receive a guaranteed monthly commission per gallon sold. Reid retains ownership of fuel inventory until sold, eliminating dealer inventory costs while providing predictable revenue.
- Commercial Fleet Sales: Direct fuel deliveries to commercial accounts including factories, trucking companies, school districts, and local governments. Fleet credit card programs offer discounts up to 18 cents per gallon.
- Retail Convenience Stores (Crosby's): Reid operates a growing chain of retail convenience stores under the Crosby's name, generating revenue from in-store merchandise, prepared foods, and fuel sales.
- Service and Maintenance: Installation, repair, and maintenance of fuel equipment including POS systems, dispensers, tank monitors, and underground storage tanks. Also includes environmental compliance and testing services.
- Real Estate: Management of an extensive real estate portfolio for company-owned locations and properties available for lease or sale.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Guaranteed Commission Program |
| Outcome Based/ Performance | Monthly | Profit-Sharing Commission Plan |
| Unit Pricing | Pay-as-you-go | Fleet Credit Cards |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Reid Petroleum product offering
Product offeringCore offering
Reid Petroleum is a full-service independent marketer of transportation fuels supplying branded and unbranded gasoline and diesel to independent dealers, commercial fleet operators, and retail consumers across New York, Pennsylvania, and Ohio. The company purchases fuel from major refiners, distributes through wholesale supply and turn-key fuel management programs, delivers fuel via its own logistics fleet, maintains and services fuel equipment, and operates the proprietary Crosby's convenience store chain.
Product overview
Reid Petroleum operates as a diversified fuel marketing and convenience store company offering five interconnected service lines: Wholesale Fuel Supply (branded and unbranded fuel distribution with partner brands Exxon, Marathon, Mobil, Shell, Sunoco, and Gulf), Retail Fuel Management (turn-key fuel facility development with guaranteed commission programs), Hauling & Logistics (fuel transportation with remote tank monitoring), Service & Maintenance (24/7 equipment repair and environmental compliance), and Real Estate (property management). The company also operates a growing chain of retail convenience stores under the Crosby's sub-brand, which represents the company's proprietary retail presence.
Differentiator
Problem solved
Functional benefit
Brands
- Crosby's: Retail convenience store chain operating under the Crosby's brand name, with stores in New York and Pennsylvania. The brand includes fresh food options, Crosby's branded fuel, and is the company's proprietary retail convenience store format.
Products and services
- Wholesale Fuel Supply Provides branded and unbranded fuel supply services to independent fuel marketers, dealers, and smaller distributors across New York, Pennsylvania, and Ohio, including the Gulf hybrid brand program combining unbranded pricing with branded image and consumer recognition.
- Retail Fuel Management Turn-key fuel facility development and management service offering guaranteed commission or profit-sharing plans, with Reid owning fuel inventory, providing remote tank monitoring, brand partnerships, and pricing management for independent dealers.
- Hauling and Logistics Fuel transportation and logistics services including expert dispatch, contract hauling, and 24/7 remote tank inventory monitoring that prevents run-outs and over-fills for dealer and commercial customers.
- Service and Maintenance 24/7 fuel facility repair, maintenance, installation, and environmental compliance services covering POS systems, dispensers, tank monitors, underground storage tanks, and regulatory testing for EPA, NY State DEC, and PA DEP requirements.
- Real Estate Commercial real estate services including buying, selling, and leasing of properties in New York, Pennsylvania, and Ohio, leveraging the company's extensive property portfolio for fuel retail and dealer locations.
- Crosby's Convenience Stores Retail chain of convenience stores under the Crosby's brand, serving customers throughout New York and Pennsylvania with fuel, groceries, beverages, prepared foods, and Crosby's branded fuel.
Quantifiable outcome
- Fleet credit cards can save up to 18 cents per gallon
- +2 more outcomes
Companies that use Reid Petroleum
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Reid Petroleum technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Reid Petroleum partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered minor and core.
- Trucking Association of New York (TANY)minorPartnership with TANY for Highway Safety Break 'No Zone' demonstrations to educate the public on safe driving around tractor trailers. Part of ongoing 'Share the Road' campaign.
- ExxonMobil Robotics SponsorshipminorReid partnered with ExxonMobil and Yahoo to donate $7,500 to the Lockport High School Warlocks 1507 Robotics Team for STEM program support.
- Montante SolarcorePartnership with Montante Solar for installation of a 200-panel, 52 kilowatt ground-mounted solar array system at Crosby's Lockport location - the first solar power usage by a Western New York convenience store.
- ExxonMobilcoreReid partners with ExxonMobil as a branded fuel distributor, offering Exxon-branded fuel products to customers across New York, Pennsylvania, and Ohio. Exxon is one of the most recognized fuel brands in the market.
- Marathon PetroleumcoreMarathon Petroleum branded fuel is distributed through Reid's network, providing another major brand option for dealers and customers.
- Shell OilcoreShell-branded fuel products distributed through Reid's wholesale network, leveraging Shell's strong consumer brand recognition.
- SunococoreSunoco branded fuel is offered through Reid's distribution network, including at Crosby's store locations where Sunoco gas and diesel pumps operate.
- MobilcoreMobil branded fuel products distributed through Reid's network, partnering with ExxonMobil's brand family.
- Gulf OilcoreReid offers a Gulf brand program providing unbranded pricing with branded benefits - deliveries priced at unbranded rates while stations display Gulf image, accept Gulf credit cards, and benefit from Gulf marketing.
- Independent Petroleum Marketers of New York (IPNY)Industry association membership providing networking, advocacy, and industry intelligence for petroleum marketers in New York.
- National Association of Convenience Stores (NACS)National industry association membership representing the convenience store industry.
- Society of Independent Gasoline Marketers of America (SIGMA)National trade association representing independent gasoline marketers.
- Petroleum Marketers Association of America (PMAA)National trade association for petroleum marketers.
- Petroleum Equipment Institute (PEI)Trade association for petroleum equipment suppliers and service providers.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
Reid Petroleum competitors and assessment
Company assessmentBroad incumbents
- Casey's General Stores: One of the largest c-store chains in the U.S., operating over 2,500 stores with a strong fuel offering and prepared-food program. Comparable to Crosby's on the retail side but at significantly larger scale and with public-company capital access.
- Pilot Travel Centers: One of the largest travel center operators in North America, providing fuel, food, and fleet services to long-haul trucking and consumer travelers. Comparable to Reid's commercial fleet fueling and Crosby's retail model but focused on highway travel centers rather than neighborhood forecourts.
- 7-Eleven (Seven & i Holdings): Largest c-store operator in the U.S. with thousands of franchised and company-owned locations selling fuel under the 7-Eleven brand and partner brands. Provides a broad incumbent benchmark for fuel+c-store economics at massive scale.
- Sunoco LP: Large-scale fuel distribution partnership with nationwide reach, distributing Sunoco and partner-branded fuels to dealers and operating company-owned retail sites. Directly comparable wholesale/retail fuel distribution model at substantially larger scale.
Direct peers
- Global Partners LP: Master limited partnership based in the Northeast that distributes gasoline, diesel, and heating oil to wholesale and retail customers and operates c-stores across New England and the mid-Atlantic. Highly comparable to Reid's wholesale fuel distribution + retail model in overlapping NY/PA geography.
- ARKO Corp (GPM Investments): Multi-brand convenience store and fuel operator that has grown aggressively through acquisitions of independent fuel marketers and c-store chains. Uses branded and unbranded fuel supply programs similar to Reid, with comparable dealer recruitment and acquisitions playbook.
Regional players
- Wawa: Privately held c-store and fuel retailer with strong brand equity across Pennsylvania, New Jersey, Delaware, and the broader mid-Atlantic. Directly comparable to Crosby's on retail format, food service, and fuel offering in Reid's core PA/NY geography.
- Sheetz: Family-owned c-store and fuel chain with deep presence in Pennsylvania and surrounding states. Closely comparable to Crosby's on store format, prepared foods, and fuel retailing, operating in significant overlap with Reid's footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Reid Petroleum social profiles
Digital presenceReid Petroleum financial estimates
Financial estimateRevenue estimate
Valuation estimate
Reid Petroleum leadership team
Management profileNumber of profiles
Profiles6 records
Reid Petroleum subsidiaries and ownership
Company hierarchySubsidiaries1 record
Reid Petroleum funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Reid Petroleum M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Reid Petroleum
What does Reid Petroleum do?
Reid Petroleum is a full-service independent marketer of transportation fuels supplying branded and unbranded gasoline and diesel to independent dealers, commercial fleet operators, and retail consumers across New York, Pennsylvania, and Ohio. The company purchases fuel from major refiners, distributes through wholesale supply and turn-key fuel management programs, delivers fuel via its own logistics fleet, maintains and services fuel equipment, and operates the proprietary Crosby's convenience store chain.
Is Reid Petroleum a public or private company?
Reid Petroleum is a private company. It is classified as family owned and is currently operating.
When was Reid Petroleum founded?
Reid Petroleum was founded in 1922. It employs 501 to 1,000 people.
Where is Reid Petroleum based?
Reid Petroleum is headquartered in Lockport, United States, in the North America region.
How does Reid Petroleum make money?
Six revenue lines are on record. Wholesale Fuel Sales are the primary driver. The others are retail Fuel Management (Guaranteed Commission), commercial Fleet Sales, retail Convenience Stores (Crosby's), service and Maintenance and real Estate.
Who are Reid Petroleum's main competitors?
Broad incumbents on record are Casey's General Stores, Pilot Travel Centers, 7-Eleven (Seven & i Holdings) and Sunoco LP. Direct peers are Global Partners LP and ARKO Corp (GPM Investments). Regional players are Wawa and Sheetz.
Does Reid Petroleum have an API?
No public API is recorded for Reid Petroleum.
What industry is Reid Petroleum in?
Reid Petroleum's product category is Fuel Marketing and Distribution. Its primary akta.pro industry code is EUALAIAB, Branded Fuels Wholesaling & Jobber Distribution, with a secondary code of EUALAIAA, Retail Service Station Operations (Company-Owned & Dealer-Operated). Its NAICS code is 4571 and its SIC code is 5171.