- 27 Mar
OPIS reports drastic volume decreases so far this year
In the latest issue of CSP Magazine, there is an OPIS advertorial with some frightening news from the OPIS surveys of nearly 5000 stations across the US.
- Year to date fuel volumes down an average of 4.8% through February 8
- Median fuel gallons are down 5.8% through February 8
- 68% of stores surveyed had volume declines year over year
- 35% of stores surveyed had volumes down more than 10% year over year
- Same store volumes are down 6.4% for the first six weeks compared to last year
OPIS spokesman Brian Norris attributes the lower volumes to the standard trends of more fuel-efficient vehicles and more telecommuters. But Mr. Norris also says the “horrendous weather seen in much of the country” had a significant impact.
I expect we’ll see this gloomy news reflected in the financial results of the publicly held c-store companies when it’s time to report to Wall Street. Of course it’s a rare financial analyst who understands these kinds of environmental pressures that are outside the control of the c-store chain.
No doubt these statistics point out how competitive the retail fuels business is nowadays. It certainly is not for the faint of heart. Without the proper fuel software like PriceAdvantage, it simply is not possible to compete effectively.