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Costco says it saw 'record-breaking' gas volumes amid rising prices

Cnbc · · 454 words · By Laya Neelakandan
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What to know about Costco says it saw 'record-breaking' gas volumes amid rising prices

Costco Wholesale on Thursday said it saw "record-breaking volumes" for gas in its fiscal third quarter amid rising fuel prices.

Claims checked 15
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center80%
Right20%

5 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Costco Wholesale on Thursday said it saw "record-breaking volumes" for gas in its fiscal third quarter amid rising fuel prices.

Why it matters

CEO Ron Vachris said the final five weeks of the quarter, which ended May 10, became Costco's top five volume weeks ever as customers searched for cheaper gas amid the war in the Middle East.

Common ground

"Against the backdrop of ongoing macro uncertainty, our focus is providing quality goods and services at the lowest possible price," Vachris said on a call with analysts.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://www.cnbc.com/2026/05/28/costco-cost-q3-2026-earnings.html

fact_checkClaims Checked

eFinder analyzed this article and checked 15 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

check_circle Corroborated 6
schedule Pending 5
info Single Source 2
cancel Disputed 2
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Claim 1: “It said adjusted comparable sales were up 6.6% for the quarter, with digital sales up nearly 21%.”
CORROBORATED
Two independent sources (one from May 28 and one from LinkedIn) report adjusted comparable sales up 6.6% and digital sales up nearly 21%.
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wikipedia NEUTRAL — Costco Wholesale Corporation is an American multinational corporation that operates a chain of membership-only big-box warehouse club retail stores. As of 2021, Costco is the third-largest retailer in…
https://en.wikipedia.org/wiki/Costco
menu_book
wikipedia NEUTRAL — The Costco hot dog is a 1⁄4-pound (110-gram) hot dog sold at the international warehouse club Costco's food courts. It is notable for its steady price and cult following as a combo deal with a soda at…
https://en.wikipedia.org/wiki/Costco_hot_dog
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wikipedia NEUTRAL — James D. Sinegal (born January 1, 1936) is an American businessman, co-founder and former CEO of the Costco Wholesale Corporation, an international retail chain. He served as Costco's president and CE…
https://en.wikipedia.org/wiki/James_Sinegal
+ 3 more evidence sources
info
Claim 2: “The company also said it saw first-time members coming to Costco for its gas stations during the quarter.”
SINGLE SOURCE
Only one specific source ('Gas fueling Costco growth, customer loyalty') mentions that many members stopped at Costco pumps for the first time ever; other sources discuss record volumes but not specifically 'first-time members'.
travel_explore
web search NEUTRAL — May 29, 2026 · Executives shared how the retailer is addressing macroeconomic situations including the cost of oil, gas sales and tariff refunds.
https://www.digitalcommerce360.com/2026/05/29/costco-sees-re…
travel_explore
web search NEUTRAL — Costco Wholesale Corporation is an American multinational corporation that operates a chain of membership-only big-box warehouse club retail stores.
https://en.wikipedia.org/wiki/Costco
travel_explore
web search NEUTRAL — 2 days ago · While Costco didn't provide specific figures, many members stopped at Costco pumps in Q3 for their first time ever. "Generally speaking, a ...
https://www.retailcustomerexperience.com/articles/gas-fuelin…
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Claim 3: “the final five weeks of the quarter, which ended May 10, became Costco's top five volume weeks ever”
CORROBORATED
Two independent sources explicitly state that the final five weeks of the quarter ending May 10 were Costco's top five volume weeks ever.
menu_book
wikipedia NEUTRAL — James D. Sinegal (born January 1, 1936) is an American businessman, co-founder and former CEO of the Costco Wholesale Corporation, an international retail chain. He served as Costco's president and CE…
https://en.wikipedia.org/wiki/James_Sinegal
menu_book
wikipedia NEUTRAL — Costco Wholesale Corporation is an American multinational corporation that operates a chain of membership-only big-box warehouse club retail stores. As of 2021, Costco is the third-largest retailer in…
https://en.wikipedia.org/wiki/Costco
menu_book
wikipedia NEUTRAL — The Costco hot dog is a 1⁄4-pound (110-gram) hot dog sold at the international warehouse club Costco's food courts. It is notable for its steady price and cult following as a combo deal with a soda at…
https://en.wikipedia.org/wiki/Costco_hot_dog
+ 3 more evidence sources
schedule
Claim 4: “Vachris said the company has begun submitting tariff refund claims”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
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Claim 5: “Costco reported an increase in net sales for its fiscal third quarter, beating Wall Street revenue expectations for the period.”
CORROBORATED
Multiple sources (Kavout, Perplexity, and others) confirm that net sales increased and beat Wall Street revenue expectations.
menu_book
wikipedia NEUTRAL — Costco Wholesale Corporation is an American multinational corporation that operates a chain of membership-only big-box warehouse club retail stores. As of 2021, Costco is the third-largest retailer in…
https://en.wikipedia.org/wiki/Costco
menu_book
wikipedia NEUTRAL — The Costco hot dog is a 1⁄4-pound (110-gram) hot dog sold at the international warehouse club Costco's food courts. It is notable for its steady price and cult following as a combo deal with a soda at…
https://en.wikipedia.org/wiki/Costco_hot_dog
menu_book
wikipedia NEUTRAL — James D. Sinegal (born January 1, 1936) is an American businessman, co-founder and former CEO of the Costco Wholesale Corporation, an international retail chain. He served as Costco's president and CE…
https://en.wikipedia.org/wiki/James_Sinegal
+ 3 more evidence sources
cancel
Claim 6: “Earnings per share: $4.93 vs. $4.93 expected”
DISPUTED
TipRanks reports EPS of $4.93 vs $4.93 expected, but Parameter reports EPS of $4.93 fell one cent below the consensus estimate of $4.94.
menu_book
wikipedia NEUTRAL — Costco Wholesale Corporation is an American multinational corporation that operates a chain of membership-only big-box warehouse club retail stores. As of 2021, Costco is the third-largest retailer in…
https://en.wikipedia.org/wiki/Costco
menu_book
wikipedia NEUTRAL — The Costco hot dog is a 1⁄4-pound (110-gram) hot dog sold at the international warehouse club Costco's food courts. It is notable for its steady price and cult following as a combo deal with a soda at…
https://en.wikipedia.org/wiki/Costco_hot_dog
menu_book
wikipedia NEUTRAL — James D. Sinegal (born January 1, 1936) is an American businessman, co-founder and former CEO of the Costco Wholesale Corporation, an international retail chain. He served as Costco's president and CE…
https://en.wikipedia.org/wiki/James_Sinegal
+ 3 more evidence sources
schedule
Claim 7: “Costco said it saw paid memberships grow 4.1% for the quarter”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
schedule
Claim 8: “Its top sales categories included pharmacy, home furnishings and gold and jewelry.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
info
Claim 9: “Revenue rose to $70.53 billion from $63.2 billion in the year-ago period.”
SINGLE SOURCE
While the current revenue of $70.53 billion is corroborated, the specific prior-year figure of $63.2 billion is not explicitly confirmed across multiple independent sources in the provided evidence.
schedule
Claim 10: “a Supreme Court decision invalidated some of President Donald Trump's levies on foreign imports.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
cancel
Claim 11: “The company reported net sales of $69.15 billion, up 11.6% from last year.”
DISPUTED
There is a contradiction in the reported net sales figure. One source (Pluang) reports $69.15 billion (up 11.6%), while others (Motley Fool, Reuters, AOL) report $70.53 billion (up 11.6% or 12%).
menu_book
wikipedia NEUTRAL — Costco Wholesale Corporation is an American multinational corporation that operates a chain of membership-only big-box warehouse club retail stores. As of 2021, Costco is the third-largest retailer in…
https://en.wikipedia.org/wiki/Costco
menu_book
wikipedia NEUTRAL — The Costco hot dog is a 1⁄4-pound (110-gram) hot dog sold at the international warehouse club Costco's food courts. It is notable for its steady price and cult following as a combo deal with a soda at…
https://en.wikipedia.org/wiki/Costco_hot_dog
menu_book
wikipedia NEUTRAL — James D. Sinegal (born January 1, 1936) is an American businessman, co-founder and former CEO of the Costco Wholesale Corporation, an international retail chain. He served as Costco's president and CE…
https://en.wikipedia.org/wiki/James_Sinegal
+ 3 more evidence sources
schedule
Claim 12: “along with a 37% increase in traffic on its website and app.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
check_circle
Claim 13: “Costco Wholesale on Thursday said it saw "record-breaking volumes" for gas in its fiscal third quarter”
CORROBORATED
Multiple independent web search results from May 28, May 29, and June 2, 2026, confirm that Costco reported 'record-breaking' gas volumes in its fiscal third quarter.
travel_explore
web search NEUTRAL — May 28, 2026 ... Costco saw "recording-breaking" gas volumes at the end of its fiscal third quarter as fuel prices rise amid the war in the Middle East.
https://www.cnbc.com/2026/05/28/costco-cost-q3-2026-earnings…
travel_explore
web search NEUTRAL — May 29, 2026 ... Costco's (COST) fiscal third quarter earnings report showed consumers flocked to the wholesale giant for savings on gas.
https://finance.yahoo.com/markets/stocks/article/costco-sell…
travel_explore
web search NEUTRAL — Jun 2, 2026 ... Costco saw “recording-breaking” gas volumes at the end of its fiscal third quarter ... reported an increase in net sales for the period ...
https://www.linkedin.com/posts/tonycdonofrio_costco-says-it-…
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Claim 14: “Revenue: $70.53 billion vs. $69.81 billion expected”
CORROBORATED
Three independent sources (Motley Fool, Reuters, AOL) confirm revenue was $70.53 billion, beating the expectation of $69.81 billion.
travel_explore
web search NEUTRAL — May 29, 2026 · ... revenue rose 11.6% to $70.53 billion, ahead of expectations at $69.81 billion. Growth was driven by record gasoline volumes as consumers ...
https://www.fool.com/investing/2026/05/29/why-costco-stock-w…
travel_explore
web search NEUTRAL — May 28, 2026 · Total quarterly revenue rose 12% to $70.53 billion, beating analysts' estimate of $69.81 billion. Its net income jumped 15% to $2.19 billion, ...
https://www.reuters.com/business/retail-consumer/costco-whol…
travel_explore
web search NEUTRAL — May 29, 2026 · ... revenue rose 11.6% to $70.53 billion, ahead of expectations at $69.81 billion. Growth was driven by record gasoline volumes as consumers ...
https://www.aol.com/articles/why-costco-stock-sliding-today-…
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Claim 15: “For the three-month period, Costco reported net income of $2.19 billion, or $4.93 per share, compared with $1.9 billion, or $4.28 per share, the year prior.”
CORROBORATED
Although the specific 'Evidence for claim 8' section was empty, the evidence for claim 7 from Reuters explicitly confirms net income jumped 15% to $2.19 billion, and the Perplexity result confirms EPS of $4.93. This aligns with the claim's figures.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.