- 20 Jun
Retail fuel margins below last year
The OPIS report today revealed that the average US retail fuel margin dipped below this equivalent week last year. The average retail fuel margin now stands at $0.160, which is a $0.036 per gallon drop from last week. Last year at this time the average retail fuel margin across the US was $0.199 per gallon.
With the unrest in Iraq, this comparison to last year is likely to remain gloomy, as last year the subsequent week saw an increase to the retail fuel margin of $0.075, when it finished the second quarter at a whopping $0.274 per gallon.
Last year the average retail fuel margin across Q2 was $0.210. So far this year the average Q2 retail fuel margin is $0.170, meaning we’ll likely see an average for the 2014 quarter in the $0.17 range, or four cents less than last year.
Year to date, the average retail fuel margins for 2014 are standing at $0.164 compared to $0.171 at this time last year.
From a fuel price management perspective, unquestionably these numbers indicate just how competitive a market it is this year. It really is a penny up, penny down game, and only the most sophisticated fuel price management software like PriceAdvantage can help you determine the best price for each location and deliver those prices quickly to the street.