by John Keller | Jun 26, 2012 | Retail Fuel Margins
Last year’s national retail fuel margins rose 25% to 18.8 cents per gallon.
According to Convenience Store News, the gross retail fuel margin in 2012 reached 18.86 cents per gallon nationally, compared to 15.03 cents per gallon in 2010. That’s a 25.5% increase in retail fuel margins year over year.
Meanwhile, the annual fuel volume gallons per store number was 4.1% lower year over year, falling to 1,205,095 gallons for 2011. That equates on average to 100,425 gallons per store per month across the nation. CSNews attributes the fuel volume drop to a slower economy, high unemployment, and more fuel-efficient automobiles.
From a fuel price management perspective, it is important to use these benchmarks to help gauge the relative performance of individual stores, markets, and overall chains.
by John Keller | Jun 26, 2012 | Fuel Pricing Technology, Industry News
Congratulations to Murphy for completing their three year project of replacing older electronic gas price signs with new signs from Skyline Products at over 500 locations. This is a feather in the cap for both Murphy and Skyline Products as we continue to extend our 12 year partnership.
Electronic gas price signs are a key component to the overall fuel price management closed loop process. With PriceAdvantage fuel pricing software, the Skyline Products electronic gas price sign provides the feedback confirming that the price change is complete at the sign, and the right price is at the street. Pairing PriceAdvantage fuel pricing software with Skyline Products electronic gas price signs also allows headquarters to have access to critical sign health and status indicators, such as internal sign temperatures, and status of power supplies.
by John Keller | Jun 25, 2012 | Industry News
Lundberg Survey shows unleaded fuel price drop of $0.146 in two weeks
According to the Lundberg Survey reported today, regular unleaded gasoline fuel prices dropped $0.146 per gallon over the past two weeks. The average price for regular unleaded now stands at $3.478, according to Lundberg. That price is $0.15 per gallon lower than last year at this time, and the lowest average price since the January 20 survey this year.
This report is based on a survey of 2500 gasoline stations across the US.
The US Energy Information Administration fuel prices report releases later today.
by John Keller | Jun 25, 2012 | Industry News
US EIA reports a $0.096 fuel price drop from last week.
In today’s Gasoline and Diesel Fuel Update report from the US Energy Information Administration, average retail regular unleaded fuel prices dropped to $3.437 per gallon, a whopping $0.096 per gallon decrease. That is the 12th consecutive weekly price drop, and the largest drop of the past 12 weeks by nearly double, bringing unleaded fuel prices back to January 30 levels of this year. Retail unleaded fuel prices for this week are now $0.137 per gallon below last year.
Fuel prices dropped $0.05 or more in every region of the country. The West Coast and the Midwest regions saw the largest fuel price drops, with a $0.141 and a $0.130 fuel price decrease from last week.
by John Keller | Jun 22, 2012 | Fuel Pricing Technology, Industry News
Tesla launches the $50k Model S Electric Vehicle
Tesla joins the mainstream Electric Vehicle market today with the launch of their $50,000 Model S sedan. Where the other EV’s currently on the market such as the Nissan Leaf have a single charge range of 75 to 100 miles, the Model S can travel 160 miles per charge, with optional packs that extend the range to 300 miles.
Tesla targets sales of the Model S at 5000 cars this year and 10,000 cars in 2013. Last year had sales of battery-electric vehicles at less than 25,000 cars, including plug-in hybrids that add a backup gasoline motor to extend range.
While interesting to keep an eye on, from a fuel price management perspective the electric vehicle is not yet poised to put a significant dent in the overall gas, diesel, and fuels market.
