About 600 independent gasoline dealers in the state will have an opportunity to buy the real estate their gas stations sit on if a bill the Legislature passed last month becomes law. But critics warn such a law may not be in the best interests of customers, and may not produce real estate prices fair to both parties.
The bill originally sought to provide ExxonMobil’s 246 independent gasoline franchisees in New Jersey the right to buy their stations before they are offered to other parties. ExxonMobil, which owns the stations, last June sought to bundle and sell an unspecified number of these stations to one or more large distributors, said Sal Risalvato, executive director of Springfield-based New Jersey Gasoline, C-Store and Automotive Association, which led the opposition.
The legislation’s impact would extend to all oil marketers, affecting some 3,000 gas stations in the state, said James Benton, executive director of the New Jersey Petroleum Council, a Trenton-based trade group representing the Big Oil companies.
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Photo: Steven J. Dundas.