by John Keller | Jun 26, 2012 | Fuel Pricing Technology, Industry News
Congratulations to Murphy for completing their three year project of replacing older electronic gas price signs with new signs from Skyline Products at over 500 locations. This is a feather in the cap for both Murphy and Skyline Products as we continue to extend our 12 year partnership.
Electronic gas price signs are a key component to the overall fuel price management closed loop process. With PriceAdvantage fuel pricing software, the Skyline Products electronic gas price sign provides the feedback confirming that the price change is complete at the sign, and the right price is at the street. Pairing PriceAdvantage fuel pricing software with Skyline Products electronic gas price signs also allows headquarters to have access to critical sign health and status indicators, such as internal sign temperatures, and status of power supplies.
by John Keller | Jun 25, 2012 | Industry News
Lundberg Survey shows unleaded fuel price drop of $0.146 in two weeks
According to the Lundberg Survey reported today, regular unleaded gasoline fuel prices dropped $0.146 per gallon over the past two weeks. The average price for regular unleaded now stands at $3.478, according to Lundberg. That price is $0.15 per gallon lower than last year at this time, and the lowest average price since the January 20 survey this year.
This report is based on a survey of 2500 gasoline stations across the US.
The US Energy Information Administration fuel prices report releases later today.
by John Keller | Jun 25, 2012 | Industry News
US EIA reports a $0.096 fuel price drop from last week.
In today’s Gasoline and Diesel Fuel Update report from the US Energy Information Administration, average retail regular unleaded fuel prices dropped to $3.437 per gallon, a whopping $0.096 per gallon decrease. That is the 12th consecutive weekly price drop, and the largest drop of the past 12 weeks by nearly double, bringing unleaded fuel prices back to January 30 levels of this year. Retail unleaded fuel prices for this week are now $0.137 per gallon below last year.
Fuel prices dropped $0.05 or more in every region of the country. The West Coast and the Midwest regions saw the largest fuel price drops, with a $0.141 and a $0.130 fuel price decrease from last week.
by John Keller | Jun 22, 2012 | Fuel Pricing Technology, Industry News
Tesla launches the $50k Model S Electric Vehicle
Tesla joins the mainstream Electric Vehicle market today with the launch of their $50,000 Model S sedan. Where the other EV’s currently on the market such as the Nissan Leaf have a single charge range of 75 to 100 miles, the Model S can travel 160 miles per charge, with optional packs that extend the range to 300 miles.
Tesla targets sales of the Model S at 5000 cars this year and 10,000 cars in 2013. Last year had sales of battery-electric vehicles at less than 25,000 cars, including plug-in hybrids that add a backup gasoline motor to extend range.
While interesting to keep an eye on, from a fuel price management perspective the electric vehicle is not yet poised to put a significant dent in the overall gas, diesel, and fuels market.
by John Keller | Jun 22, 2012 | Fuel Price Management, Industry News
OPIS suggests fuel prices may drop to $3 by Halloween
Tom Kloza, Chief Oil Analyst at OPIS says there are multiple indications that gas prices could hit $3 per gallon by Halloween “and certainly by Thanksgiving”. Slumping wholesale gasoline contracts for fall delivery, oil inventories at 21 year highs, and low consumer demand are the key indicators cited.
From a fuel price management perspective, this may be what the industry needs to recoup the poor margins seen throughout the early part of the calendar year.
by John Keller | Jun 21, 2012 | Fuel Price Management, Industry News
EPA allows model 2001 and newer vehicles to use E15
The Environmental Protection Agency announces final approval for 2001 and newer passenger vehicles can use E15.
Numerous agencies, including the consumer advocacy arm of Consumer Reports, has expressed concern about warranties being voided when consumers use this fuel in cars that are not suited to it. Consumer Reports also questions the fuel economy that this fuel will provide.
Fuel Pricing managers now need to track the pricing of this new fuels option and decide on a market by market basis whether or not to add E15 to their fuels portfolio.