by John Keller | Jun 11, 2012 | Fuel Price Management, Industry News
Today’s report from the US Energy Information Administration shows yet another fuel price drop, the ninth week in a row. The average price for unleaded regular conventional fuel across the US now stands at $3.572, four cents per gallon less than last week, and $0.14 cents per gallon less than one year ago.
The biggest drop for the week was in the West Coast, where regular unleaded fuel prices dropped $0.09 per gallon. Only the Midwest region saw a price increase, up $0.02 per gallon from last week. Regular unleaded fuel prices are down from one year ago across all regions except for the Rocky Mountain and West Coast regions.
by John Keller | Jun 6, 2012 | Fuel Price Management, Industry News
Congratulations to PriceAdvantage customer Rutter’s on the opening of their 57th store. This store has 18 auto fueling positions, four auto diesel fueling positions, and three dedicated diesel truck fueling spaces.
Rutter’s is a long-time customer of PriceAdvantage. Included in the Rutter’s fuel price management solution is the closed loop process with the Radiant POS systems and Skyline signs at each store, as well as the communication with GasBuddy OpenStore allowing Rutter’s to use mobile devices to post their most current prices on GasBuddy.
by John Keller | May 15, 2012 | Industry News, PriceAdvantage
Partnership with Gilbarco critical to the closed loop fuel price management process
Today’s announcement of the partnership between PriceAdvantage and Gilbarco Veeder-Root is critical for those companies looking for a closed loop fuel price management system that includes the Gilbarco Passport POS.
Using PriceAdvantage at the headquarters office, the fuel manager can analyze store performance, review the latest competitor survey information, choose an optimized price for a store or market, and send out the price changes. And here is the part of the process where this partnership is so strategic – without relying on the store manager, the price changes are deployed to the POS and pump, as well as the electronic price sign, and then a confirmation message is sent back to headquarters notifying the fuel manager that the price change is complete, with a time and date stamp. The fuel manager then has a historical reference of what prices are where and at what time – there is no more second guessing or ambiguity surrounding what price is really at the street, and whether or not the store manager did what I told him to do.
PriceAdvantage is not new to the POS system environment; integrations to Radiant and Verifone are already proven in the field at numerous customer sites. PriceAdvantage customers who are customers of Gilbarco Passport, whether 100% or in a mixed POS environment, can now include the Passport POS in their closed loop fuel price management system.
by John Keller | Apr 20, 2012 | Industry News, PriceAdvantage
PriceAdvantage customer Sheetz opened another new store in North Carolina. The new store is one of ten new stores Sheetz plans to open in North Carolina this year.
Sheetz uses PriceAdvantage to manage their closed loop fuel price management process, including to their Skyline signs.
by John Keller | Apr 13, 2012 | Industry News, Retail Fuel Margins
In the OPIS Retail Fuel Watch, OPIS reported retail fuel prices dropped $0.8 cents per gallon nationally, the lowest level since March 27.
The most common fuel price is $3.799, with just under 19% of the stores across the nation having fuel prices above $4.00 per gallon.
PriceAdvantage allows you to display in your fuel price management system OPIS Radius report information about specific competitor stores, so you can compare your prices to the competition and quickly react with price changes as needed.
by John Keller | Mar 27, 2012 | Fuel Price Management Solutions, Fuel Pricing Technology, Industry News
According to the most recent MasterCard SpendingPulse study, fuel consumption declined 3% over the past 52 weeks. That equates to 4.2 billion gallons.
According to John Gamel, who oversees MasterCard SpendingPulse’s weekly consumption report, part of the reason for the decline is that people have purchased vehicles with better gas mileage. Average gas mileage is now 24 miles per gallon, compared to 20 mpg in 2008.
Experts agree this trend of declining fuel consumption is bound to continue. From a fuel price management perspective, it’s clear that as convenience stores continue to fight for an ever shrinking fuel market, competition will continue to be tough. Only the c-store chains with the most effective fuel pricing technology will survive.
This information was reported by Convenience Store News in an article here.