A process for reclaiming and recycling gasoline vapor that collects in the headspace of gasoline storage tanks at retail service stations comprises sealing the tank against ingress of atmospheric gases, introducing a selected inert gas into the storage tank as the liquid gasoline is extracted therefrom to establish an inert gas/gasoline vapor mixture in the headspace of the storage tank, periodically recovering the inert gas/gasoline vapor mixture from the storage tank, and processing the recovered mixture to condense the gasoline vapor to liquid gasoline, which is removed for subsequent use.