by John Keller | Jan 3, 2014 | Customer News, Fuel Price Management Solutions, Fuel Software, Industry News
The Savannah Morning News awarded The Parker Companies “Entrepreneur of the Year”. The award is based on criteria such as growth and success, as well as philanthropy and community involvement.
Greg Parker, CEO of Parker’s Convenience Stores, attributed the company’s success on the idea that they worship data, and that they use technology in a way that other companies don’t.
A significant part of the data and technology that Mr. Parker is referring is the Parker’s PriceAdvantage implementation that includes PDI, VeriFone POS, GasBuddy OpenStore, and Skyline electronic price signs. “I’m looking for every single gallon of gas I can sell,” he said. “There is no way I’m going to let a competitor get up on me. We’re going to be the low price leader.”
Parker’s plans to open their 35th store next month, with 17 more stores in the pipeline.
The PriceAdvantage team would like to congratulate Parker’s on their ongoing success and rapidly accumulating list of awards. We look forward to our ongoing close relationship and our mutual success.
by John Keller | Dec 30, 2013 | Industry News
The latest OPIS report shows that average retail fuel margins across the US took a big hit this week, dropping $0.081 per gallon to an average of $0.140 per gallon.
That is the lowest retail fuel margin since November 29. The year to date average for 2013 finishes at $0.190 per gallon. The Q4 average finishes at $0.200, and the six week average is $0.172. On this same week last year, the average was $0.132 per gallon.
by John Keller | Dec 13, 2013 | Industry News, Retail Fuel Margins
The OPIS report released today announced that retail fuel margins dropped $0.019 per gallon this week, the fifth margin loss in six weeks. The average retail fuel margin across the US now stands at $0.191 per gallon. The year to date average is $0.190 per gallon and the fourth quarter average is $0.204 per gallon. The six week average is $0.188 per gallon.
The retail fuel margin for this week last year was $0.240 per gallon. The fourth quarter average across the US in 2012 was $0.230 per gallon, so with only two weeks remaining in the year, it doesn’t look like Q4 margins this year will match the Q4 margins of last year.
by John Keller | Dec 6, 2013 | Fuel Pricing Strategy, Industry News, Retail Fuel Margins
The OPIS report today revealed that average retail fuel margins across the US jumped $0.081 per gallon this week, nearly restoring the fuel margin losses suffered since November 15. The average retail fuel margin across the US now stands at $0.210 per gallon. The year to date average is now $0.190 per gallon and the Q4 calendar average is $0.197 per gallon.
The jump this week means average retail fuel margins are now back above the 2012 level for same day last year, when average retail fuel margins stood at $0.198 per gallon. Last year, these weeks in December saw a retail fuel margin increase to $0.24 per gallon.
National news reports say oil prices are decreasing due to a glut in the US Gulf Coast. That may result in lower wholesale costs, and more opportunities for increased retail fuel margins in the coming weeks.
by John Keller | Dec 3, 2013 | Industry News, Retail Fuel Margins
The latest OPIS report reveals that retail fuel margins across the US dropped again this week. Average retail fuel margins were down $0.013 per gallon and now stand at $0.129 per gallon. That’s the fourth consecutive loss, and retail fuel margin averages are now at the lowest level since July 19 of this year.
The year to date average now stands at $0.189 per gallon, while the Q4 average is at $0.205 per gallon. The six week average is now at $0.195.
This is the second consecutive week that retail fuel margins this year are below the equivalent day of last year. In 2012, the average retail fuel margin was $0.167 per gallon. Last year average retail fuel margins rose $0.07 per gallon over the first three weeks of December, before dropping $0.11 per gallon the last week of the year.
by John Keller | Nov 26, 2013 | Customer News, Fuel Price Management Solutions, Industry News
According to the San Antonio Alamo City Beat, CST Brands plans to build 30 new stores in 2014. CST Brands opened 11 new stores in the past four months.
Additionally, CST Brands will ring the opening bell on Wall Street on December 3.
CST Brands has been rewarded favorably by financial analysts such as J.P. Morgan for their successful strategy of focusing on in-store margins by opening large c-stores. CST Brands has been quite successful at improving their fuel margins since being spun off from the Valero refinery parent.
CST Brands has been using PriceAdvantage as their exclusive retail fuel software since 2012.