ARKO Petroleum

What ARKO Petroleum does

ARKO Petroleum Corp. is a growth-oriented wholesale fuel distribution company and one of the largest wholesale fuel distributors by gallons in North America, supplying customers across more than 30 U.S. states spanning the Mid-Atlantic, Midwestern, Northeastern, Southeastern, and Southwestern regions. The company was incorporated in Delaware in July 2025 as a wholly-owned subsidiary of ARKO Corp., one of the largest convenience store operators in the U.S., and completed its initial public offering on the Nasdaq Capital Market under ticker APC on February 13, 2026, raising approximately $206.8 million in net proceeds. ARKO Petroleum supplies fuel to approximately 3,400 sites including 2,126 dealer-operated gas stations, 1,056 ARKO retail sites (its parent company's convenience stores), and 292 cardlock locations, distributing approximately 2.1 billion gallons of fuel annually.

The company operates through three integrated business segments: Wholesale (fuel supply to third-party dealers and gas stations under cost-plus or consignment arrangements), Fleet Fueling (proprietary and third-party cardlock locations plus a proprietary fuel card network serving commercial fleet operators), and GPMP (exclusive fuel supply to ARKO Corp.'s convenience stores under a 10-year agreement). The underlying technology platform comprises proprietary fuel card systems with integrated payment and tracking, cardlock operations infrastructure, and the supply chain backbone that moves 452.9 million gallons in a typical quarter. The dealerization program — converting ARKO retail sites to higher-margin wholesale dealer arrangements — has converted 450 sites since 2024, with management citing an expected $20 million annual profitability uplift.

Revenue is generated primarily through fuel margins on cost-plus and consignment arrangements with third-party dealers, fixed per-gallon mark-ups (15.0 cents wholesale, 6.0 cents related party as of January 1, 2026), commissions and margins at cardlock locations, and approximately $15.3 million in quarterly rental income from leased and subleased properties. The asset-light operating model with limited employee requirements enables high conversion of gross profit to Adjusted EBITDA, which reached $36.4 million in Q1 2026 (up 65.1% year-over-year) on $1.34 billion in total revenue. Post-IPO, ARKO Corp. retains 73.6% economic interest and 93.3% of combined voting power.

Name

ARKO Petroleum

Legal name

ARKO Petroleum Corp.

Website

https://arkopetroleum.com

Company type

Public

Founded year

2025

Operating status

Operating

Short description

ARKO Petroleum is a wholesale fuel distribution company and one of the largest by gallons in North America, supplying approximately 3,400 sites across 30+ U.S. states to third-party dealers, fleet operators, and ARKO Corp.'s convenience stores.

Ownership category

akta.pro rank

Product category

Wholesale Fuel Distribution

NAICS

Petroleum Bulk Stations and Terminals (424710), Fuel Dealers (45721)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD)

akta.pro secondary industry

Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK)

Keywords

• Wholesale fuel distribution
• Fleet fueling services
• Petroleum marketing
• Cardlock fueling network
• Fuel supply logistics

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Wholesale Fuel Distribution: Supply of fuel to gas stations operated by third-party dealers, sub-wholesalers, and bulk purchasers on either cost-plus or consignment basis. Revenue is generated through margin on fuel costs plus fixed mark-ups, with the company retaining prompt pay discounts and rebates from fuel suppliers.
2. Fleet Fueling Services: Operation of proprietary and third-party cardlock locations with commissions from fuel sales using proprietary fuel cards. Revenue is generated from diesel and fuel margins at cardlock locations.
3. GPMP Segment Fuel Supply: Sale and supply of fuel to ARKO convenience stores at cost plus fixed margin (6.0 cents per gallon after Dec 31, 2025), plus fixed fee for sites not supplied by the company.
4. Rental Income: Lease and sublease of owned and leased properties to dealers and other tenants, generating approximately $15.3 million in operating lease income for Q1 2026.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

ARKO Petroleum Corp. is a wholesale fuel distribution company that supplies motor fuel to third-party gas station dealers under cost-plus and consignment arrangements, provides fleet fueling services through proprietary and third-party cardlock locations with a proprietary fuel card network, and supplies fuel to ARKO Parent's convenience stores under an exclusive 10-year agreement. The company distributes approximately 2.1 billion gallons of fuel annually across more than 30 U.S. states to more than 3,400 sites.

Product overview

ARKO Petroleum Corp. is a growth-oriented fuel distribution company operating as a platform with three core business segments: Wholesale, Fleet Fueling, and GPMP. The Wholesale segment supplies fuel to third-party dealers and gas stations; the Fleet Fueling segment operates cardlock locations and provides fuel card networks; and the GPMP segment supplies fuel to ARKO Retail Sites (convenience stores) operated by parent company ARKO Corp. The company completed its IPO in February 2026 and trades on Nasdaq under symbol APC.

Differentiator

Problem solved

Functional benefit

Products and services

• Wholesale Fuel Distribution Wholesale distribution of motor fuel to gas stations operated by third-party dealers, sub-wholesalers, and bulk and spot purchasers on either a cost-plus or consignment basis. Supplies 2,126 dealer locations across more than 30 U.S. states.
• Fleet Fueling Operation of proprietary and third-party cardlock locations (unstaffed fueling locations) and issuance of proprietary fuel cards providing access to a nationwide network of 292 fueling sites for commercial fleet customers.
• GPMP (GPM Petroleum LP) Fuel Supply Sale and supply of fuel to ARKO Retail Sites (convenience stores) at cost plus a fixed margin (6.0 cents per gallon after Dec 31, 2025), plus fixed fee for sites not supplied by the company. Supplies 1,056 ARKO convenience store locations under an exclusive 10-year agreement.

Quantifiable outcome

• 65.1% year-over-year Adjusted EBITDA growth in Q1 2026 to $36.4 million
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Apollo PowerminorStrategic or Co-development Partner · 3 February 2026GPM Investments, LLC (subsidiary of parent ARKO Corp) signed a memorandum of understanding with Apollo Power for a potential $53 million solar project covering at least 300 gas station sites in the U.S. This represents a potential expansion into renewable energy infrastructure at company-owned locations.
• Greenberg TraurigcoreImplementation/ SI/ Consulting PartnerLegal counsel representing ARKO Petroleum in its $200 million IPO, advising on regulatory and securities law compliance.
• Latham & WatkinscoreImplementation/ SI/ Consulting PartnerLegal counsel advising on the IPO transaction for the fuel distribution company.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Global Partners LP: Northeast-focused wholesale and retail fuel distributor with terminals, cardlock, and dealer supply operations that mirror ARKO Petroleum's bulk-station, fleet fueling, and wholesale segments.
• Parkland Corporation: Canadian-based fuel distributor and convenience retailer with a wholesale supply business and growing U.S. footprint, comparable in fee-based fuel distribution and dealer-supply contracts.
• Sunoco LP: Master limited partnership focused on wholesale motor fuel distribution to dealers and distributors across the U.S., with a fuel margin and distribution model closely aligned with ARKO Petroleum's wholesale segment.
• World Kinect Corporation: Global fuel distribution and energy products company selling wholesale motor fuels and operating cardlock/fleet networks; overlaps with ARKO Petroleum on B2B fuel distribution and fleet card platforms.
• CrossAmerica Partners LP: Wholesale fuel distributor supplying motor fuel to independent dealers and commissioned operators; comparable in distribution-to-dealers model, fee-based revenue, and small fuel-margin economics.

Broad incumbents

• Pilot Travel Centers: Berkshire Hathaway-owned travel center and fuel distribution platform with cardlock and fleet services, a much larger competitor overlapping with ARKO Petroleum's fleet fueling segment.
• Casey's General Stores: Midwest convenience store operator with own fuel supply infrastructure; less directly comparable on wholesale but provides a relevant demand-side read on fuel volumes through c-store networks.
• Alimentation Couche-Tard: Global convenience and fuel retail giant (Circle K) with integrated wholesale fuel supply; broader and more diversified than ARKO but competes for dealer accounts and fleet customers.
• Murphy USA: Large U.S. retail fuel and convenience operator with adjacent wholesale capabilities; while primarily retail, its scale and supply relationships make it a relevant downstream comp.

Others

• ARKO Corp. Parent company and largest customer; operates 1,056 retail convenience stores supplied under an exclusive 10-year agreement with ARKO Petroleum and is the principal counterparty for the GPMP segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ARKO Petroleum