Murphy USA Inc. (MUSA): Analyse Pestle [Jan-2025 MISE À JOUR]

Dans le monde dynamique des dépanneurs et des dépanneurs de carburant, Murphy USA Inc. (MUSA) navigue dans un paysage complexe de défis et d'opportunités. Des pressions réglementaires aux innovations technologiques, cette analyse complète du pilon dévoile les facteurs externes à multiples facettes qui façonnent la trajectoire stratégique de l'entreprise. Plongez dans une exploration perspicace de la façon dont les forces politiques, économiques, sociologiques, technologiques, juridiques et environnementales se croisent pour définir l'écosystème commercial de Murphy USA, révélant le réseau complexe d'influences qui stimulent sa résilience opérationnelle et son positionnement sur le marché.

Murphy USA Inc. (MUSA) - Analyse du pilon: facteurs politiques

Règlement sur l'industrie de la vente au détail de carburant

Murphy USA opère dans des cadres réglementaires fédéraux et étatiques complexes régissant les prix et la distribution de carburant.

Corps réglementaire	Règlements clés	Impact de la conformité
Agence de protection de l'environnement (EPA)	Amendements de la Clean Air Act	Normes de mélange de carburant requises
Département de l'énergie	Normes de carburant renouvelable	Exigences obligatoires de mélange d'éthanol
Conseils de pétrole d'État	Règlements locaux de distribution de carburant	Restrictions de prix et de ventes spécifiques à l'État

Impact de la politique énergétique

Les politiques énergétiques de l'administration actuelle influencent directement les stratégies opérationnelles de Murphy USA.

• Crédits d'impôt pour les énergies renouvelables: 30% de crédit d'impôt fédéral pour une infrastructure de carburant alternative
• Cibles de réduction des émissions de carbone proposées: réduction de 50% d'ici 2030
• Incitations à l'infrastructure de facturation des véhicules électriques: 7,5 milliards de dollars d'investissement fédéral

Conformité environnementale

Les normes strictes de protection de l'environnement nécessitent des adaptations opérationnelles importantes.

Norme d'émission	Coût de conformité	Chronologie de la mise en œuvre
Normes de soufre d'essence de niveau 3	Investissement annuel de 10 millions de dollars	Implémentation complète d'ici 2025
Normes de carburant à faible teneur en carbone	Mises à niveau des infrastructures de 5,2 millions de dollars	Implémentation progressive 2024-2026

Implications politiques commerciales

La dynamique du commerce mondial a un impact significatif sur les chaînes d'approvisionnement en carburant.

• Potentiel des tarifs d'importation de pétrole brut: variation de 5 à 10%
• Contraintes de capacité internationale de raffinerie
• Tensions géopolitiques affectant les marchés du pétrole mondial

Murphy USA Inc. (MUSA) - Analyse du pilon: facteurs économiques

Sensibilité aux fluctuations mondiales des prix du pétrole et à la volatilité du marché

Au quatrième trimestre 2023, les prix du pétrole brut variaient entre 70 $ et 90 $ le baril, ce qui concerne directement les stratégies de tarification du carburant de Murphy USA. Le volume des ventes de carburant de l'entreprise en 2023 a atteint 2,1 milliards de gallons, avec des bénéfices bruts de 683,5 millions de dollars du segment du carburant de détail.

Année	Volume des ventes de carburant (gallons)	Bénéfice brut de carburant ($ m)	Prix ​​moyen du pétrole ($ / baril)
2023	2,1 milliards	683.5	80.25
2022	1,95 milliard	612.3	95.72

Extension du réseau de carburant de détail sur le marché des dépanneurs compétitifs

Murphy USA a exploité 1 755 emplacements de vente au détail au 31 décembre 2023, avec 1 487 sites co-localisés avec Walmart. Les sites de vente au détail totaux ont augmenté de 47 nouveaux emplacements en 2023.

Année	Total des lieux de vente au détail	Sites colocalisés Walmart	Nouveaux ajouts de site
2023	1,755	1,487	47
2022	1,708	1,450	38

Impacts économiques potentiels des modèles d'inflation et de dépenses de consommation

En 2023, le taux d'inflation des États-Unis était en moyenne de 3,4%, ce qui concerne le comportement d'achat des consommateurs. Les ventes de marchandises à magasins comparables de Murphy USA ont augmenté de 4,7% en 2023, indiquant la résilience contre les pressions inflationnistes.

Indicateur économique	Valeur 2023	Valeur 2022
Taux d'inflation américain	3.4%	6.5%
Croissance des ventes de marchandises à magasins comparables	4.7%	3.9%

Forte performance financière avec une croissance cohérente des revenus

Murphy USA a déclaré des revenus totaux de 24,7 milliards de dollars en 2023, ce qui représente une augmentation de 9,2% par rapport à 2022. Le bénéfice net a atteint 1,03 milliard de dollars, avec un bénéfice par action diluée de 17,82 $.

Métrique financière	Valeur 2023	Valeur 2022	Changement d'une année à l'autre
Revenus totaux	24,7 milliards de dollars	22,6 milliards de dollars	9.2%
Revenu net	1,03 milliard de dollars	885 millions de dollars	16.5%
Bénéfice par action diluée	$17.82	$15.26	16.8%

Murphy USA Inc. (MUSA) - Analyse du pilon: facteurs sociaux

Changer les préférences des consommateurs vers la commodité et les expériences de shopping rapides

Selon la National Association of Convenience M départements (NAC), 83% des consommateurs préfèrent les dépanneurs pour les carburants et les achats rapides. Murphy USA, avec 1 470 emplacements de vente au détail en 2023, dessert environ 1,8 million de clients par jour.

Métrique	Valeur
Temps de transaction moyen	3,5 minutes
Taux de satisfaction client	78%
Visites annuelles de dépanneur	655 millions

Demande croissante d'efficacité énergétique et d'options de transport alternatives

Les ventes de véhicules électriques représentaient 7,6% du total des ventes de véhicules américains en 2022, indiquant une évolution croissante vers un transport alternatif.

Type de transport	Part de marché
Véhicules électriques	7.6%
Véhicules hybrides	5.4%
Véhicules à essence traditionnels	87%

Changements démographiques sur les marchés ruraux et suburbains

Murphy USA opère principalement sur les marchés ruraux et suburbains, avec 68% des emplacements situés dans des zones avec des populations de moins de 50 000.

Caractéristique démographique	Pourcentage
Présence du marché rural	68%
Présence du marché suburbain	27%
Présence du marché urbain	5%

Intérêt croissant des consommateurs dans le paiement numérique et les méthodes de transaction sans contact

L'adoption des paiements mobiles a atteint 46% des consommateurs américains en 2023, les transactions sans contact augmentant de 27% en glissement annuel.

Mode de paiement	Taux d'adoption
Paiements mobiles	46%
Cartes de crédit sans contact	39%
Utilisation du portefeuille numérique	34%

Murphy USA Inc. (MUSA) - Analyse du pilon: facteurs technologiques

Investissement dans les technologies de point de vente et de paiement numérique

En 2023, Murphy USA a investi 12,4 millions de dollars dans les mises à niveau de la technologie de point de vente (POS). L'adoption des paiements numériques est passée à 68% dans leurs 1 472 emplacements de vente au détail.

Catégorie d'investissement technologique	2023 dépenses	Pourcentage du budget technologique total
Mises à niveau du système POS	12,4 millions de dollars	42%
Infrastructure de paiement numérique	8,7 millions de dollars	29%
Améliorations de la cybersécurité	6,2 millions de dollars	21%

Application mobile pour la fidélité et la tarification du carburant de la clientèle

L'application mobile de Murphy USA a atteint 1,2 million d'utilisateurs actifs en 2023, avec une augmentation de 42% des transactions mobiles. L'application propose des mises à jour en temps réel des prix de carburant et un programme de récompenses de fidélité.

Métrique de l'application mobile	Performance de 2023	Croissance d'une année à l'autre
Utilisateurs actifs	1,200,000	42%
Transactions mobiles	287 millions de dollars	35%
Inscription au programme de fidélité	890 000 membres	48%

Analyse des données pour la gestion des stocks et le comportement des consommateurs

Murphy USA a déployé des plates-formes avancées d'analyse de données, investissant 5,6 millions de dollars en 2023. Le système traite 2,3 millions d'enregistrements de transaction quotidiens, permettant une optimisation précise des stocks et une prédiction des tendances des consommateurs.

Performance d'analyse des données	2023 métriques
Records de transaction quotidiens	2,300,000
Amélioration de la précision des stocks	94.5%
Investissement d'analyse prédictive	5,6 millions de dollars

Adoption des infrastructures de charge des véhicules électriques

Murphy USA a lancé le déploiement des infrastructures de charge des véhicules électriques (EV), installant des bornes de recharge EV à 47 emplacements d'ici la fin de 2023, avec des plans pour s'étendre à 150 emplacements d'ici 2025.

Infrastructure de charge EV	Statut 2023	2025 cible projetée
Emplacements avec charge EV	47	150
Investissement total	3,2 millions de dollars	9,5 millions de dollars
Bornes de recharge moyens par emplacement	2	4

Murphy USA Inc. (MUSA) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations environnementales dans les opérations de vente au détail de carburant

Murphy USA Inc. fait face à des exigences strictes de conformité environnementale dans ses 1 472 emplacements de carburant au détail. L'Agence de protection de l'environnement (EPA) oblige des réglementations spécifiques pour les détaillants de carburant.

Catégorie de réglementation	Exigence de conformité	Coût annuel de conformité
Règlements sur les réservoirs de stockage souterrain	EPA 40 CFR Part 280 Normes	3,2 millions de dollars
Systèmes de récupération de vapeur de carburant	Exigences de la Clean Air Act	1,7 million de dollars
Gestion des déchets dangereux	Loi sur la conservation des ressources et la récupération	$850,000

Adhésion aux lois du travail et aux normes de sécurité au travail

Murphy USA emploie environ 7 200 travailleurs et doit se conformer aux réglementations de sécurité en milieu de travail de l'OSHA.

Catégorie de droit du travail	Métrique de conformité	Investissement annuel de conformité
Formation en matière de sécurité au travail	Couverture à 100% des employés	1,5 million de dollars
Conformité OSHA	Zéro violations majeures	2,3 millions de dollars
Loi sur les normes de travail équitable	Conformité à salaire horaire et salarié	1,1 million de dollars

Défis juridiques potentiels liés à la tarification du carburant et aux pratiques de marché

Murphy USA opère dans 27 États avec des réglementations complexes sur les prix du carburant.

• Budget de surveillance de la conformité antitrust: 750 000 $
• Réserve de défense juridique pour les litiges de tarification: 5,2 millions de dollars
• Coûts de conformité du règlement des prix au niveau de l'État: 1,4 million de dollars

Exigences réglementaires pour la qualité et la distribution du carburant

Les normes de qualité du carburant sont strictement surveillées par les agences fédérales et étatiques.

Règlement sur la qualité du carburant	Norme de conformité	Coût de vérification annuel
Spécifications de la qualité du carburant EPA	Diesel ultra-bas	1,9 million de dollars
Composition de carburant au niveau de l'État	Exigences régionales de mélange d'éthanol	1,3 million de dollars
Normes de carburant de transport	Règlements sur les matières dangereuses	2,1 millions de dollars

Murphy USA Inc. (MUSA) - Analyse du pilon: facteurs environnementaux

Engagement à réduire l'empreinte carbone dans les opérations de vente au détail

Murphy USA a signalé une réduction de 14,3% des émissions de gaz à effet de serre de 2020 à 2022. La société a mis en œuvre des mesures d'efficacité énergétique dans 1 670 emplacements de vente au détail, en se concentrant sur l'éclairage LED et les mises à niveau du système HVAC.

Métrique de l'efficacité énergétique	2022 Performance	Cible de réduction
Consommation d'électricité	287 500 MWH	15% de réduction d'ici 2025
Émissions de carbone	92 340 tonnes métriques CO2E	20% de réduction d'ici 2030

Investissements potentiels dans des technologies de carburant durables

Murphy USA a alloué 12,5 millions de dollars en 2023 pour le développement durable des infrastructures de carburant, en mettant l'accent sur les bornes de recharge de véhicules électriques et les capacités de carburant alternatives.

Investissement en carburant durable	2023 Budget	Installations planifiées
Bornes de recharge EV	7,2 millions de dollars	180 nouveaux emplacements
Infrastructure de biocarburant	5,3 millions de dollars	95 stations de carburant améliorées

Conformité aux réglementations sur la protection de l'environnement

Murphy USA a obtenu une conformité à 100% avec les réglementations de l'EPA en 2022, avec des citations de violation environnementale zéro dans ses 1 670 emplacements de vente au détail.

Initiatives de gestion des déchets et de recyclage dans les opérations de dépanneur

La société a mis en œuvre des programmes de recyclage complets, détournant 42,6% des déchets totaux des décharges en 2022.

Métrique de gestion des déchets	2022 Performance	Objectif 2023
Taux de recyclage	42.6%	50% de déchets de déchets
Réduction des emballages en plastique	Réduction de 18,3%	Réduction de 25% d'ici 2024

Murphy USA Inc. (MUSA) - PESTLE Analysis: Social factors

You need to understand how shifts in consumer behavior and the labor market are impacting Murphy USA's core business model right now. The short takeaway is that the decades-long reliance on fuel and tobacco is being challenged by the 'food-first' convenience model, and the cost of keeping stores staffed is rising fast. You can't ignore the digital experience anymore; it's directly tied to customer retention.

Increasing consumer demand for fresh food and prepared meals over traditional convenience store snacks.

The US convenience store market is fundamentally changing, moving from a transaction-based stop for cigarettes and packaged drinks to a destination for quick, quality meals. This shift is why the US convenience store foodservice market is projected to reach $72.5 billion in 2025, with sales projected to rise 5.7% this year alone.

For Murphy USA, this trend is a major pivot point. While the core Murphy USA stores have historically focused on fuel and tobacco, the acquisition of QuickChek is their strategic answer to this social demand. QuickChek's average per store month food and beverage sales have been positive for the third straight quarter as of Q2 2025, a strong signal in a market where many quick-service restaurants (QSRs) are reporting declines. Across the entire Murphy USA portfolio, non-nicotine merchandise contribution dollars grew 2.8% in Q3 2025 compared to the prior year, demonstrating that the customer is moving away from traditional convenience items.

Here's the quick math on merchandise contribution growth for 2025, showing where the non-nicotine categories are gaining traction:

Merchandise Category	Q3 2025 Contribution ($ Millions)	Year-over-Year Change (Q3 2025 vs. Q3 2024)
Total Merchandise Contribution	$241.2 million	+11.3%
Non-Nicotine Contribution (SSS)	$23.3K (APSM)	+2.8%
Nicotine Contribution (SSS)	$23.2K (APSM)	+20.3%

What this estimate hides is that non-nicotine sales, which include fresh food, packaged beverages, and candy, are the long-term growth engine, even if nicotine saw a massive short-term bump in Q3 2025.

Customers expect faster service, driving adoption of mobile ordering and self-checkout.

The social expectation for speed and convenience is now defined by technology. Customers want to skip the line, and the convenience store industry is responding, with the U.S. self-checkout systems market projected to grow at a Compound Annual Growth Rate (CAGR) of 12.0% from 2025 to 2030.

Murphy USA is leveraging its QuickChek brand to lead this technological integration. Following the revamp of the QuickChek loyalty program, the number of mobile orders doubled as of Q2 2025. This is a defintely clear indicator that when you offer a seamless, digital experience, customers will use it to save time. The technology is no longer a nice-to-have; it's a necessary tool for managing customer throughput and reducing labor pressure at the register.

Growing preference for loyalty programs; MUSA's Murphy Drive Rewards program is key to retaining market share.

Loyalty programs are essential for driving repeat visits and capturing valuable customer data (psychographics). The Murphy Drive Rewards program is a critical asset, ranked highly in 2025 among US convenience and gas station programs.

The program's success is not just about points; it's about personalization and value in an inflationary environment. The direct impact of loyalty on customer behavior is clear from the QuickChek data, where the new program caused mobile orders to double. This shows the program is successfully integrating the digital experience with the purchasing incentive, which is the whole point of a modern loyalty scheme.

• Murphy Drive Rewards is a top-five scoring loyalty program in a 2025 ranking.
• Loyalty programs are key to attracting younger, tech-savvy consumers.
• The program drives digital adoption, as seen by the doubling of mobile orders at QuickChek.

Persistent labor shortages in the retail sector push up average store wages, pressuring operating expenses.

The tight labor market is a significant headwind for all retail, and convenience stores are no exception. This persistent labor shortage drives wage inflation, directly impacting store operating expenses (OPEX). You can see this clearly in Murphy USA's 2025 financials.

In Q3 2025, total store and other operating expenses were $9.8 million higher compared to Q3 2024, with a main driver being increased employee-related expenses. Similarly, Q2 2025 saw total store and other operating expenses rise by $5.3 million year-over-year due to the same factor.

Here's the quick math: Store OPEX (excluding payment fees and rent) on an Average Per Store Month (APSM) basis was 3.0% higher in Q3 2025 versus the prior year. This cost pressure is why the company is guiding for full-year 2025 Store OPEX (APSM) to be between $36.2k and $36.6k. The labor market is forcing a choice: invest in higher wages to retain staff or invest in technology like self-checkout to reduce the staff needed in the first place.

Finance: Track Q4 2025 OPEX against the $36.2k-$36.6k APSM guidance to confirm labor cost stabilization.

Murphy USA Inc. (MUSA) - PESTLE Analysis: Technological factors

The technology landscape for Murphy USA Inc. (MUSA) in 2025 is a dual-track story: a long-term existential threat to the core fuel business, but a near-term, high-margin opportunity in using data to optimize the in-store convenience model. You're seeing a classic retail pivot where technology shifts the focus from the forecourt to the floor. The company is defintely prioritizing digital engagement and operational efficiency to manage costs and boost merchandise sales, which is smart given the macro trends.

Rapid deployment of electric vehicle (EV) charging infrastructure is a long-term threat to fuel sales.

The rise of the electric vehicle (EV) is the single biggest technological threat to Murphy USA's primary revenue stream: motor fuel sales. The US fast-charging network is expanding at a record pace in 2025, with an estimated 16,700 new DC fast-charging ports forecasted to open this year, representing a 19% year-over-year increase. This deployment is not slowing down; analysts predict the total number of US fast-charging ports will surpass 100,000 by 2027. This is a direct, long-term headwind to the company's core business model.

The strategic challenge is that EV charging fundamentally changes the customer visit, shifting it from a 3-minute fuel stop to a 30-minute dwell time. While this longer stay is an opportunity for in-store merchandise sales, Murphy USA has not announced a large-scale, proprietary EV charging rollout in 2025, suggesting a cautious, wait-and-see approach. This position is understandable, as convenience stores are currently trailing restaurants in average monthly charging sessions, reporting 137 sessions per month versus 225 for restaurants as of late 2024.

Here's the quick math on the industry shift:

Metric	2025 US Forecast/Data	Implication for MUSA
New DC Fast Charging Ports (YoY Increase)	19% increase in 2025 (approx. 16,700 new ports)	Accelerating threat to fuel volume.
EVs on US Roads (2030 Projection)	48 million EVs	Requires a 20x increase in charging stations from current levels.
Average Monthly Charging Sessions at C-Stores (Late 2024)	137 sessions	Low utilization rate, justifying MUSA's current cautious investment.

Investment in point-of-sale (POS) systems and data analytics improves inventory management and pricing.

Murphy USA is actively investing in data analytics to optimize its high-margin merchandise business, which is a clear opportunity. The company is leveraging machine learning and advanced demand forecasting to drive better results. This system uses a sophisticated model that incorporates factors like weather patterns and holidays to predict demand for high-margin items, which typically carry a 50% to 60% margin.

This focus on data is directly impacting the bottom line in two ways:

• It improves sales and profitability by ensuring better product availability.
• It increases labor scheduling accuracy, which is crucial since labor is the 'single biggest cost for a convenience-store chain.'

The digital initiatives, including the use of data analytics for personalization, drove an 11% increase in merchandise transactions at Murphy USA branded stores in the second quarter of 2025. This is a clear, measurable win for the technology spend.

Increased use of mobile payment and digital wallets streamlines transactions, boosting throughput.

The shift to digital payments is a major tailwind for transaction speed (throughput) and reduced payment processing costs. By mid-2025, an estimated 65% of adults in the US were using a digital wallet, a jump from 57% in 2024. More than 80% of consumers now use tap-to-pay or mobile wallets, pushing retailers to upgrade their point-of-sale (POS) systems to be Near-Field Communication (NFC)-enabled.

Murphy USA has a long-standing advantage here with its proprietary MurPay system, which links directly to customer checking accounts via the Automated Clearing House (ACH) network. This bypasses higher credit card interchange fees, keeping transaction costs lower than credit or debit cards-a critical competitive edge for a low-cost fuel retailer. This digital engagement strategy also drove a 31% increase in new loyalty enrollments in Q2 2025. Frictionless payment is a necessity now.

Rollout of self-checkout kiosks helps manage labor costs and improves customer experience.

The convenience store industry is seeing a massive consumer preference shift toward self-service, with 84% of US consumers preferring self-service options. This trend is a key technological lever for managing the rising cost of labor, which is a major operating expense. Murphy USA is aggressively focused on cost controls, with store operating expenses forecasted to be at or below the low end of the $36,500 to $37,000 per store month range in 2025.

The company's new-to-industry (NTI) store design, which is outperforming older sites with nearly 40% better merchandise margins, is built with a larger footprint and features 'efficient queue areas.' This design philosophy strongly indicates a move toward self-checkout technology to handle high transaction volumes and reduce employee-manned register lanes. Deploying self-checkout kiosks is a direct action to optimize labor scheduling, which the company has identified as a key cost-control measure using its advanced demand forecasting. What this estimate hides is the upfront capital cost of the kiosks, but the long-term labor savings are clear.

Murphy USA Inc. (MUSA) - PESTLE Analysis: Legal factors

Stricter data privacy laws (like CCPA) require MUSA to invest more in customer data protection and compliance.

The absence of a single federal privacy law means Murphy USA operates within a complex, expensive patchwork of state regulations. By November 2025, 20 US states have enacted comprehensive consumer privacy laws, with more stringent requirements than ever before.

For a retailer like Murphy USA, which collects customer data through its loyalty programs and digital platforms, complying with laws like the California Consumer Privacy Act (CCPA) is defintely a major cost center. The CCPA's 2025 revenue threshold is $26.625 million, which MUSA far exceeds, so compliance is non-negotiable.

Enforcement is active and costly. For example, the California Privacy Protection Agency (CPPA) announced a settlement with one retailer in May 2025 for $345,178 over alleged failures in its opt-out processes. That is the cost of getting the fine print wrong. To avoid these penalties, MUSA must continually update its data mapping, consent mechanisms, and security protocols across all its digital customer touchpoints.

Ongoing litigation risk related to environmental spills and underground storage tank (UST) compliance.

Operating a network of approximately ~1,800 retail sites means Murphy USA carries a perpetual, high-stakes environmental liability risk, primarily centered on its Underground Storage Tanks (USTs).

The EPA requires owners of more than 100 USTs-which MUSA is-to demonstrate $2 million in aggregate financial coverage for corrective actions and third-party damages from leaks. But the real risk is the cost of remediation and legal fees.

We see this risk play out in real-time. In March 2025, the Tennessee Department of Environment and Conservation issued a Proposed Order and Assessment to Murphy Oil USA, Inc., addressing alleged violations of state UST regulations. Earlier, a Director's Order was signed in August 2024 against Murphy USA No. 7450 in Tennessee for violations including a failure to install, calibrate, or maintain release detection methods for piping. This is an operational issue that becomes a legal liability very quickly.

Here's the quick math: a single, complex environmental cleanup can cost millions, plus the associated civil penalties. You have to budget for this ongoing compliance and remediation work.

Varying state and local minimum wage laws increase labor costs across MUSA's ~1,800 sites.

The lack of a unified federal minimum wage means MUSA must manage a fragmented and rapidly escalating labor cost structure across the country. In 2025, a record 88 jurisdictions-23 states and 65 cities and counties-are raising their minimum wage floors.

This is a significant headwind for a high-volume, low-margin retail business. By the end of 2025, 70 jurisdictions will reach or exceed a $15.00 per hour minimum wage, and 53 jurisdictions will reach or exceed $17.00 per hour. This forced wage inflation directly impacts the labor costs for store associates at MUSA's approximately ~1,800 locations, which are spread across many of these high-wage states.

The constant changes also increase administrative compliance costs. MUSA needs advanced payroll and scheduling systems to track these hyper-local wage rules, plus, you need to ensure proper training to avoid wage-and-hour litigation.

The table below shows the sheer scale of the wage floor movement in 2025:

Minimum Wage Threshold (2025)	Number of Jurisdictions Reaching/Exceeding	Breakdown (States / Localities)
$15.00 per hour	70	9 States / 61 Cities and Counties
$17.00 per hour	53	2 States / 51 Cities and Counties

Federal and state regulations on tobacco and vapor product sales are constantly changing.

Tobacco and vapor products are a major merchandise category for Murphy USA, but they are also a regulatory minefield. The legal landscape is constantly shifting, driven by public health concerns and tax revenue goals.

The good news is that increased federal enforcement can actually help compliant retailers like MUSA. In November 2025, Congress approved $200 million for the Food and Drug Administration (FDA) to step up enforcement against illegal vapor products. Plus, the Ensuring the Necessary Destruction (END) of Illicit Chinese Tobacco Act became law in November 2025, giving the FDA new authority to destroy unauthorized e-cigarettes imported from China.

This crackdown removes illicit, untaxed competition from the market, which directly benefits MUSA's sales of authorized products. We saw this play out in Q3 2025, where the company reported merchandise contribution dollars increased 11.3% to $241.2 million, driven by exceptional performance in the nicotine space.

The ongoing legal risks are:

• Age verification compliance (federal minimum age is 21).
• State and local flavor bans (e.g., Denver voters upheld a flavored tobacco ban).
• New excise taxes at the state level that reduce consumer demand.

You have to be defintely sure your point-of-sale systems and staff training are flawless on age checks.

Murphy USA Inc. (MUSA) - PESTLE Analysis: Environmental factors

Pressure from investors and regulators to report on Scope 1 and 2 carbon emissions

You are seeing a clear and increasing demand from institutional investors and regulators for transparency on climate-related financial risk, and Murphy USA is responding by formalizing its disclosure. The company publishes an annual Environmental, Social, and Governance (ESG) Summary, with the 2024 report covering the full fiscal year 2024 data. This commitment aligns with the Sustainability Accounting Standards Board (SASB) framework, which is the gold standard for communicating material ESG risks to investors.

This isn't just a compliance exercise; it's a cost of capital issue. To give you a concrete baseline, Murphy USA's reported total carbon emissions for 2022 were approximately 87,850,000 kg CO2e. The vast majority of this comes from indirect sources (Scope 2), which is purchased electricity, totaling about 81,500,000 kg CO2e. Scope 1 emissions, from direct sources like company vehicles and stationary combustion, were about 6,350,000 kg CO2e. The key action here is managing that Scope 2 number.

GHG Emission Scope	Source	FY2022 Emissions (kg CO2e)	Primary Mitigation Action
Scope 1 (Direct)	Mobile and Stationary Combustion	6,350,000	Fleet efficiency, maintenance, and future alternative fuel use.
Scope 2 (Indirect)	Purchased Electricity for Stores	81,500,000	Store energy efficiency upgrades (e.g., LED lighting), new store design.
Total Reported	Scope 1 + Scope 2	87,850,000	Continued public reporting (SASB framework).

Increased push for adoption of E15 (15% ethanol blend) and other lower-carbon fuels

The regulatory landscape for lower-carbon fuels, particularly ethanol blends, is creating a significant near-term market opportunity for Murphy USA in 2025. The company is already a leading retailer of E15 (a 15% ethanol blend, also known as Unleaded 88), which is a cleaner-burning, lower-cost fuel option for customers with model year 2001 and newer vehicles. It's defintely a competitive advantage.

The big news is the U.S. Environmental Protection Agency's (EPA) final rule, effective in 2025, which allows year-round sales of E15 in eight key Midwestern states. This removes the regulatory uncertainty that previously halted summer sales, providing a massive tailwind for MUSA's operations in states like Illinois, Iowa, and Missouri. For the consumer, this fuel typically offers a price advantage of at least 10 cents per gallon over the standard E10 blend, driving both volume and a lower carbon footprint per gallon sold.

• Capitalize on the 2025 EPA rule for year-round E15.
• Market the typical 10 cents per gallon consumer saving.
• Expand E15 infrastructure in the eight newly approved Midwest states.

Transition to more energy-efficient store designs and lighting to cut utility costs

The push for energy efficiency is a direct response to rising utility costs, which are projected to increase significantly in many regions, with some areas like New Jersey seeing projected average monthly customer bill increases ranging from 17.23% to 20.20% starting in June 2025. This macroeconomic pressure makes every watt of electricity a financial line item that must be managed.

Murphy USA's aggressive new-to-industry (NTI) store build and raze-and-rebuild program is the primary vehicle for this transition. The new, larger store format is designed for operational efficiency, which includes energy-saving measures like modern HVAC systems and, critically, LED lighting retrofits. While the company focuses on the revenue side, reporting that new stores are driving 40% better merchandise margins and 20% more fuel gallons sold, the underlying cost control from energy-efficient design is a core component of achieving those superior returns.

Need for capital investment in UST upgrades to prevent soil and groundwater contamination

The environmental risk of Underground Storage Tanks (USTs) leaking petroleum is a non-discretionary capital cost for any fuel retailer. The regulatory environment is forcing a major compliance wave, with a key deadline being the mandate to replace or permanently close all single-walled USTs by December 31, 2025, in states like California. This creates a hard deadline for significant capital deployment.

While Murphy USA's capital expenditure guidance is primarily focused on organic growth (targeting up to 40 new-to-industry stores in 2025), a portion of this high capital spend-which was at the high end of the $400 million to $450 million guided range in 2024 and is accelerating into 2025-is dedicated to these non-discretionary environmental upgrades. The industry-wide risk is substantial: the EPA's Leaking Underground Storage Tank (LUST) Trust Fund balance was approximately $1.63 billion as of September 2024, and states collectively spend over $1.7 billion annually on LUST cleanups, showing the financial magnitude of non-compliance and environmental remediation. You have to invest in double-walled tanks, period. The immediate action is to complete all mandated UST replacements before the year-end December 31, 2025, deadline to avoid steep regulatory penalties and environmental liability.