by John Keller | Aug 30, 2014 | Customer News, Fuel Price Management, Fuel Pricing Strategy, Industry News, PriceAdvantage
The Syracuse Post-Standard newspaper interviewed Kim Bowers, the CEO of CST Brands, which recently acquired the chain of Nice N Easy stores in New York. The full interview can be found here.
Ms. Bowers’ daughter attends Hamilton College and frequented the local Nice N Easy store. Her daughter would often email photos of the store to her mom and tell her how much she liked it.
Ms. Bowers’ said CST Brands was attracted to the change because Nice N Easy had such great community involvement, and outstanding customer support. She said Nice N Easy customers should expect no changes, other than some more product offerings from the CST Brands private label brand “Fresh Choices”. The CEO said that at CST Brands it’s common for the customer to come inside the store because of the relationship they have with the people inside the store.
From a fuel price management perspective, this customer service focus and attention to the community plays into strategies that may not need to provide the lowest fuel prices in town. Customers are willing to by fuel at stores they like – just like the old saying goes “People do business with people who they like to do business with.”
by John Keller | Aug 26, 2014 | Fuel Price Management, Industry News, Retail Fuel Margins
According to OPIS, the current retail fuel margin average dipped $0.012 per gallon this week to $0.223. That makes the second consecutive weekly fuel margin decrease, but keeps the year to date average trending upward for the past eight weeks.
The current year to date average stands at $0.184, while the Q3 average dipped to $0.249 and the six week average remained relatively unchanged at $0.262.
The average retail fuel margin currently stands $0.036 per gallon above the comparable week last year.
From a fuel price management perspective, we’re starting to see margins erode as we enter the end of the busy summer travel season, but still remain strong throughout the quarter. Last year the retail fuel margin trended up approximately $0.10 per gallon this equivalent week through the end of September. Let’s hope retail fuel margins will rebound as we enter next month and finish off the quarter strong.
by John Keller | Aug 26, 2014 | Customer News, Fuel Price Management, Industry News
As reported by Convenience Store Decisions, Parker’s was just named one of the fastest growing companies according to Inc. Magazine. This is the third consecutive year Parker’s has made the list. That is an honor shared by companies like Intuit, Zappos, and Pandora.
“This celebrated achievement is a testament to our employees and the trust and confidence that our customers and business partners have placed in us,” said Parker’s CEO Greg Parker. “This phenomenal growth is only possible as the result of a coordinated team effort.”
The PriceAdvantage team is proud to have Parker’s as a customer and business partner, and we look forward to our ongoing success.
by John Keller | Aug 15, 2014 | Fuel Price Management, Industry News, Retail Fuel Margins
According to the OPIS report today, the average retail fuel margin across the US dipped below the equivalent date for last year. The average retail fuel margin is now $0.021 below last year, the first time the weekly average is below 2013 since July 4.
The retail fuel margin average now stands at $0.235 per gallon, down $0.041 from last week, compared to $0.256 last year. The year to date average continued its upward trend by rising $0.002 to $0.183 per gallon. The Q3 average was slightly less this week at $0.253 per gallon, while the six week average rose $0.007 to $0.263 per gallon.
Last year, the next three weeks showed a margin drop of seven cents per gallon. We’ll see if this year we can keep margins at current levels and maintain the strong Q2 numbers we’re seeing so far.
by John Keller | Aug 12, 2014 | Customer News, Industry News, Retail Fuel Margins
The latest financial results from Murphy USA show a decline in both same store fuel volumes and overall retail fuel margins.
For the three months ending June 30, 2014, gallons sold per store per month was down 2.6% compared to the same period last year. The retail fuel margin average decreased from $0.156 per gallon last year to $0.132 per gallon this year.
CEO Andrew Clyde attributed the decreased margins to a difficult environment.
Murphy USA has 1,228 total locations in operation that include 1,035 Murphy USA sites and 193 Murphy Express sites. There are currently 20 new sites under construction.
