- 23 Nov
Retail fuel sales down 4.5% year over year
The latest MasterCard Spending Pulse survey reported retail fuel sales down 4.5% compared to the same period last year for the week ending November 18.
Holiday travel for this year is predicted to be higher than last year, but not enough to turn around the trend. Experts cite the causes as being high unemployment and low wages.
From a fuel price management perspective, this survey indicates the ongoing trend of fuels retailers chasing fewer fuel gallons, making the environment even more competitive and with less room for error. Convenience stores without the most advanced fuel price management solutions will find it increasingly difficult to effectively compete in these market conditions.