by John Keller | Jun 27, 2014 | Fuel Price Management, Fuel Pricing Technology, PriceAdvantage
As reported by CSPNet.com, gas taxes will change in California and Indiana on July 1.
In California, the excise gas tax will drop $0.035 per gallon from $0.395 to $0.36 per gallon for the 2014-2015 fiscal year, ending June 30, 2015.
In Indiana, the state will be switching from a prepaid sales tax on gasoline, which was collected from retailers, to a gasoline-use tax based on a rolling monthly statewide average that is collected from distributors. The tax rate could change from month to month depending on the average price for gasoline. For the month of July 2014, the tax will be $0.229 per gallon.
From a fuel price management perspective, it’s critical that all your fuel pricing systems can be quickly adjusted to adapt to the new taxes. PriceAdvantage is built with this kind of flexibility in mind, allowing you to make these tax changes to your system without having to call in expensive consultants and pay them to open the hood and make the changes.
Does the fuel pricing software you have make it easy to change tax rates?
by John Keller | Jun 20, 2014 | Fuel Price Management Solutions, Industry News, Retail Fuel Margins
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.
by John Keller | Jun 13, 2014 | Fuel Price Optimization, Fuel Software, Industry News, Retail Fuel Margins
Today’s OPIS report reveals that the average US retail fuel margin increased for the second consecutive week, this time rising $0.025 per gallon to an average of $0.196 per gallon. That raised the year to date retail fuel margin average to $0.164 and the Q2 average to $0.171 per gallon.
For the seventh consecutive week, the six week average increased, this time up $0.007 to hit $0.197 per gallon.
Last year at this time, the average retail fuel margin across the US was $0.152 per gallon. That means after being below last year for two weeks, this year’s average retail fuel margin is back above last year, a position we’ve held this year four times over the past six weeks.
Last year at this time, the average retail fuel margin had three consecutive weeks of increases, capping at a whopping $0.302 per gallon reported on July 5. With the political unrest in Iraq having an impact on the Brent Crude and WTI levels, where they are now trading at the highest levels of the year, it may prove difficult to reach the margin heights we attained last year.
by John Keller | Jun 11, 2014 | Fuel Price Management Solutions, Fuel Pricing Software, Fuel Pricing Technology, Fuel Software, Industry News
Shell Oil Company has added the NCR Radiant POS (RPOS) as a new option for Shell Branded Wholesalers. Shell retailers can now opt for a complete software, hardware and services solution from NCR to reduce costs and enhance customer service.
Shell branded wholesalers not only have a new choice to handle the everyday transactions inside the store and at the fuel pump, but also handle the demands of complex food service operations.
“Consumers have a variety of choices today when it comes to fueling and convenience,” said Eric Stecker, vice president and general manager, Petroleum and Convenience, NCR Retail. “We can now offer Shell branded wholesalers the RPOS solution, allowing them to add mobile, tablet, cloud, and food service solutions that can dramatically reduce wait times, increase customer satisfaction and increase efficiency of operations. NCR looks forward to helping Shell create an improved customer experience – one that separates their service from competitors.”
This is exciting news for PriceAdvantage because NCR Radiant has been a strong integration partner for many years. PriceAdvantage customers including Sheetz, Rutter’s, and Royal Farms have been executing their PriceAdvantage retail fuel price changes through the Radiant POS since 2007 with full confirmation feedback. Now that Shell Oil has added NCR Radiant to their list of available POS systems, we look forward to offering our solution to every Shell fuel retailer.
by John Keller | Jun 6, 2014 | Industry News, Retail Fuel Margins
The OPIS report today revealed that the average retail fuel margin across the US ticked up $0.006 per gallon this week to $0.171 per gallon. That moves the year to date average to $0.163 per gallon and the Q2 average to $0.169 per gallon. The six week average climbed for the sixth consecutive week to $0.190 per gallon.
This same day in 2013 the average retail fuel margin was $0.216 per gallon. But last year at this time, the average retail fuel margin dropped $0.06 per gallon the subsequent week to $0.152. If we can hold our retail fuel margins steady next week, we’ll be above last year for the first time in three weeks.
by John Keller | Jun 6, 2014 | Customer News, Fuel Pricing Software, Industry News
For the first time, a US company has won the International Convenience Retailer of the Year award – Rutter’s was named the winner by the National Association of Convenience Stores in London.
“We’ve been very fortunate to be recognized by both our customers as well as our industry peers as the best not only locally in our central Pennsylvania marketplace, but also nationally and now internationally,” said Rutter’s CEO, Scott Hartman, “when you consider the impressive companies that entered, we take great pride in winning such a prestigious award and it feels especially great to know that we’re the first chain to bring this recognition home to the U.S.”
We at PriceAdvantage couldn’t be more proud. We’ve been working with Rutter’s since 2007, and they have been a great partner. View a short video here to listen to Gabe Olives, vice chair of Conexxus and a member of the PriceAdvantage Customer Advisory Board, explain why Rutter’s selected PriceAdvantage.
This prestigious award recognizes technology leadership as part of their criteria, so it feels good to contribute to their success. Congratulations Rutter’s!
