NACS article holds key statistics for retail fuel pricing this year

  • NACS article holds key statistics for retail fuel pricing this year

    Today there’s a good article on NACS Online that includes several key statistics.

    1. Gasoline demand increased 1.1% in 2013, the largest annual increase since 2006 according to the US EIA.
    2. 5% of those surveyed say gas prices are too high at $3.30 per gallon.
    3. 65% of those surveyed say gas prices are too high at $3.50 per gallon.
    4. 91% of those surveyed say gas prices are too high at $4.00 per gallon.
    5. 53% of those surveyed say they are changing driving habits now, compared to 68% in the spring of last year.

    What are the key takeaways from a fuel price management perspective?

    1. While regional fuel volumes may vary, on a national level across the US it’s worth noting that fuel volumes were higher last year. As you manage your fuel volumes and review the numbers from last year, it’s good to keep in mind this key benchmark for comparison sake.
    2. As you fine tune your fuel pricing strategy, bullets 2, 3 and 4 above point to specific gas price thresholds that you may want to stay clear of, opting instead for a price of $3.49 for example if margins support it.
    3. The numbers for fuel volumes aren’t yet in for this year, but bullet 5 above is an indicator that overall demand may hold steady this year or perhaps even increase a bit as the US economy continues to rebound. Perhaps in your specific markets there may be more fuel volumes available to grab.

    The original article may be found here.

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