by John Keller | Dec 15, 2010 | Fuel Price Management, Industry News
According to the US Energy Information Administration today, retail fuel prices across the US rose again this week.
The U.S. average retail fuel price for a gallon of gasoline increased for the second straight week, up more than two cents from last week to $2.98 per gallon, and $0.38 per gallon higher than last year at this time. West Coast gasoline prices increased more than three cents, the largest gain versus last week. West Coast gasoline remains the most expensive in the country at $3.19 per gallon. Prices on the East Coast and in the Rocky Mountains were up almost three cents, while prices on the Gulf Coast gained more than two cents. Rounding out the regions, the Midwest saw its average gasoline price increase a penny from last week.
by John Keller | Dec 13, 2010 | Industry News
Retail fuel prices in the UK hit a new record last week. Fuel is priced by pence per liter in the UK, and fuel prices averaged the equivalent of $7.30/gallon in US dollars. Higher crude costs were the cause.
Source: NACSOnline and Automobile Association
by John Keller | Dec 8, 2010 | Retail Fuel Margins
Retail fuel margins in the third quarter at Kroger hit $0.127, compared to $0.119 for the same period last year. Michael Schlotman, CFO, reported in the Kroger earnings call December 2, 2010: “On a rolling four-quarter basis, the cents per gallon retail fuel margin was $0.121 compared with $0.107 in the comparable prior period. In the third quarter, our retail fuel operations benefited our total Company results by about a penny per share on a year-over-year basis”.
by John Keller | Dec 7, 2010 | Industry News
The US Energy Information Administration today reported national average US fuel prices reversed the two week trend of declines and increased to prices not seen since October 2008. Regular Unleaded fuel increased $.10/gallon this week, the largest change week-to-week since May 2009. The average price for Unleaded across the US is now $2.95 per gallon.
Regionally, the biggest increases were in the Midwest and Gulf Coast, where Unleaded fuel rose $.14/gallon. The Lower Atlantic states saw an increase of $.11/gallon for Unleaded, but in the Central Atlantic states and on the West Coast, Unleaded fuel only increased $.06/gallon this week. In the Rocky Mountain states, the price of Unleaded fuel was unchanged.
The highest prices for Unleaded were in California, with the average Unleaded fuel price in Los Angeles hitting $3.28 and in San Francisco $3.29.
by John Keller | Dec 6, 2010 | Retail Fuel Margins
Retail Fuel margins are projected to be $.12/gallon for fiscal year 2010 in the Kroger Q3 earnings report issued December 2, 2010. Kroger’s Form 8-K filed with the US Security Exchange Commission also projects “continued strong growth in gallons sold”.
This $.12/gallon retail fuel margin projection is 5 to 7 cents lower than many other companies selling retail fuel in a comparison of financial results in 2010.
