Do you shake your fist at the gas station as you drive away after paying more than $50 to top off your tank? Well, ease up. Apparently, that gas station isn't benefiting from the meteoric rise in gas prices. Witness Uni-Marts LLC, which filed for Chapter 11 Thursday in Delaware.
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Uni-Marts, a chain of convenience stores and gas stations, has been around more than 30 years, and you'll find them in places such as Pennsylvania, New York and Ohio under the "Uni-Mart" and "Choice" brandnames.
In its filing, Uni-Marts unequivocally blames the dramatic increase in gas prices for its demise. While gasoline usage may have emboldened oil-producing nations to boost gas prices, it seems that those prices are now starting to cause a slack in demand -- hurting gas station operators such as Uni-Marts. The spike in prices has also created other costs for gas station operators, namely the doubling of credit card processing fees in 2007.
Uni-Marts is now going to look for a buyer under the protection of the bankruptcy court. So as little solace as it provides, at least motorists know they're not the only ones these days suffering under the yoke of higher gas prices. - Ben Fidler
