(CARY) -- North Carolina based convenience store chain The Pantry, Inc. reported third quarter net income of $19 million. This compared to net income of $18 million during the same period last year.

“We were able to deliver $84.7 million of Adjusted EBITDA in the third quarter, despite higher retail gas prices and a challenging employment picture across many of our key markets," said President and Chief Executive Officer Terrance M. Marks.

The company's fuel sales volume declined 6.9% overall in the third quarter, but this was partially offset by an increase in margin. The Pantry's third quarter fuel revenues increased 25.3% to $1.8 billion primarily due to the 34% increase in the average retail price per gallon. Fuel gross profit of $80.1 million was negatively impacted by a $5.4 million year over year increase in credit card fees, primarily as a result of higher retail prices.

Cary-based The Pantry operates 1,655 stores in 13 states, many of them under the Kangaroo Express name.