NAICS 424710 Quarterly Industry Report
Petroleum Bulk Stations and Terminals
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 424710Sector: Wholesale Trade (42)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 424710 draws on verified data from the U.S. Census Bureau[5], Bureau of Labor Statistics[7], and Small Business Administration[6] to profile the petroleum bulk station and terminal sector. Our research team analyzes fuel distribution economics, commodity pricing dynamics, and environmental compliance requirements to provide accurate market intelligence for business valuation purposes. The report covers SBA size standards, related NAICS classifications, and the regulatory environment governing bulk petroleum storage and distribution. Fair Market Value updates this NAICS 424710 profile quarterly to reflect new Census releases and industry developments.
Industry Snapshot
Key metrics for the petroleum bulk stations and terminals industry.
Industry Definition & Overview
Petroleum Bulk Stations and Terminals (NAICS 424710) encompasses establishments with bulk liquid storage facilities primarily engaged in the merchant wholesale distribution of crude petroleum and petroleum products, including liquefied petroleum gas. These operations maintain tank farms, loading racks, and pipeline connections that receive petroleum products from refineries and pipelines, store inventory in above-ground or underground tanks, and load delivery trucks or railcars for distribution to retail gas stations, commercial fuel customers, and industrial users.
Bulk petroleum distribution requires capital-intensive infrastructure including storage tanks, vapor recovery systems, fire suppression equipment, spill containment structures, and truck loading facilities. EPA regulations under the Spill Prevention, Control, and Countermeasure (SPCC) rule impose strict requirements on facilities storing petroleum above threshold quantities. State underground storage tank programs add compliance layers for facilities with buried tanks. According to the U.S. Census Bureau[5], the distinction between this code and 424720 centers on whether the establishment operates from bulk liquid storage facilities. Terminal operators that receive products by pipeline, barge, or railcar and redistribute by tank truck represent the core of this classification.
The SBA[6] sets the size standard at 200 employees for this industry. Wholesale petroleum margins are thin and volume-driven, with pricing tied to benchmark crude oil and refined product indices published daily. Rack pricing at terminals changes with each delivery, requiring wholesalers to manage inventory positions against volatile commodity markets. Branded distributors operate under supply agreements with major oil companies, while unbranded (independent) distributors source products opportunistically from multiple refiners to capture pricing advantages.
What's Included in This Industry
- Wholesale distribution of gasoline from bulk storage terminals
- Distribution of diesel fuel and heating oil from bulk stations
- Wholesale of crude petroleum through pipeline terminal operations
- Distribution of liquefied petroleum gas from bulk storage
- Wholesale of jet fuel and aviation gasoline from terminals
- Distribution of kerosene and other refined petroleum products
- Operation of petroleum product loading rack facilities
- Wholesale of biofuel blends from bulk blending terminals
- Distribution of residual fuel oil from bulk storage
- Wholesale of asphalt and road oil from terminal operations
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Wholesale Trade | 42 |
| Subsector | Merchant Wholesalers, Nondurable Goods | 424 |
| Industry Group | Petroleum and Petroleum Products Merchant Wholesalers | 4247 |
| NAICS Industry | Petroleum Bulk Stations and Terminals | 42471 |
| National Industry | Petroleum Bulk Stations and Terminals | 424710 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 424720 | Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) | Distributes petroleum products through wholesale channels without bulk storage facilities, representing the non-terminal segment of petroleum wholesale distribution |
| 424690 | Other Chemical and Allied Products Merchant Wholesalers | Handles other chemical and allied products wholesale distribution, with product overlap in industrial lubricants and petrochemical-derived products |
| 424610 | Plastics Materials and Basic Forms and Shapes Merchant Wholesalers | Distributes plastics materials through wholesale channels, sharing upstream petrochemical feedstock supply connections that influence product pricing |
| 424910 | Farm Supplies Merchant Wholesalers | Handles farm supply wholesale distribution, with overlap in agricultural fuel delivery and propane distribution to rural customers |
| 424950 | Paint, Varnish, and Supplies Merchant Wholesalers | Distributes paint and varnish products through wholesale channels, with connections through petroleum-derived solvent and coating raw materials |
| 424990 | Other Miscellaneous Nondurable Goods Merchant Wholesalers | Handles other miscellaneous nondurable goods wholesale distribution, with some overlap in specialty petroleum products and industrial fluid distribution |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 11.0% | 415 |
| 2 | California | 7.1% | 267 |
| 3 | Florida | 3.9% | 148 |
| 4 | Louisiana | 3.4% | 127 |
| 5 | Ohio | 3.4% | 127 |
| 6 | North Carolina | 3.3% | 125 |
| 7 | Michigan | 3.1% | 119 |
| 8 | Pennsylvania | 3.1% | 118 |
| 9 | Georgia | 3.1% | 117 |
| 10 | Illinois | 3.1% | 117 |
% Of Establishments
0%
11%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
16
Total SBA Loans
$40.9M
Total Loan Volume
$2.6M
Average Loan Size
18 yrs
Average Loan Term
8.88%
Average Interest Rate
128
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[6] classifies NAICS 424710 under petroleum and petroleum products merchant wholesale trade with a size standard of 200 employees. Businesses at or below this threshold qualify as small for federal contracting preferences and SBA loan programs. Bulk petroleum wholesalers can access SBA 7(a) loans[8] for working capital to manage fuel inventory positions and for equipment upgrades. Firms purchasing or expanding bulk storage terminal facilities may qualify for 504 loans[9]. Environmental compliance infrastructure including tank upgrades, vapor recovery systems, and spill containment represent common financing needs.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | 8 | $38.1M | $4.8M |
| 2 | Northeast Bank | 8 | $2.8M | $350K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses fall under NAICS 424710?
NAICS 424710 covers establishments with bulk liquid storage facilities engaged in wholesale distribution of crude petroleum and petroleum products including gasoline, diesel, heating oil, jet fuel, LPG, and other refined products. Source: U.S. Census Bureau[5]
What is the SBA size standard for NAICS 424710?
The SBA sets the size standard at 200 employees for petroleum bulk stations and terminals. Businesses at or below this employee count qualify as small for federal contracting preferences and SBA financing programs. Source: SBA Size Standards[6]
How does NAICS 424710 differ from NAICS 424720?
NAICS 424710 requires establishments to operate bulk liquid storage facilities (tank farms, terminals) for wholesale distribution. NAICS 424720 covers petroleum wholesalers that distribute without operating bulk storage, such as jobbers who arrange deliveries directly from terminals to end customers.
What environmental regulations affect petroleum terminals?
EPA SPCC rules govern spill prevention for facilities storing petroleum above threshold quantities. Clean Air Act vapor recovery requirements apply to loading operations. State underground storage tank programs add compliance layers. Fire codes dictate storage quantity limits and safety equipment requirements.
What NAICS codes are related to petroleum bulk terminals?
Related wholesale codes include 424720 (non-bulk petroleum wholesalers), 424690 (other chemicals), and 424610 (plastics materials). Supply-side codes include 324110 (petroleum refineries), 211120 (crude oil extraction), and 486110 (crude oil pipelines). Source: Census NAICS[5]
Can petroleum bulk terminal operators get SBA loans?
Yes, small businesses under NAICS 424710 can access SBA 7(a) loans for working capital and equipment, 504 loans for terminal facility acquisitions and expansions, and microloans for smaller needs. Environmental compliance infrastructure is a common financing purpose. Source: SBA Loan Programs[10]
How does petroleum pricing work at bulk terminals?
Terminal rack prices change daily based on crude oil benchmarks, refinery output, and regional supply-demand conditions. Branded distributors purchase at contractual prices from their oil company suppliers, while independent distributors source at posted rack prices from multiple terminals. Source: EIA[11]
What infrastructure do petroleum terminals require?
Bulk petroleum terminals need above-ground storage tanks, truck loading racks, vapor recovery systems, fire suppression equipment, spill containment structures, pipeline connections, and tank gauging systems. Environmental monitoring wells and stormwater management systems are also standard requirements.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]SBA sba.gov
- [7]Bureau of Labor Statistics bls.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loans sba.gov
- [10]SBA Loan Programs sba.gov
- [11]EIA eia.gov
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