by John Keller | Jul 2, 2012 | Industry News, Retail Fuel Margins
In today’s Gasoline and Diesel Fuel Update, the US EIA reported regular unleaded fuel prices across the US dropped for the 13th consecutive week, this time by $0.081 per gallon to $3.356. Fuel prices haven’t been this low since before January 9, 2012. Unleaded regular fuel prices are now $0.223 per gallon lower than one year ago.
The Midwest and West Coast regions both saw a weekly drop of $0.108 per gallon, the biggest decrease of all the regions in the US. In the West Coast region, the average regular unleaded fuel price is now $0.47 per gallon less than one month ago.
Regular unleaded fuel price averages are lower than last year in every region except in the Rocky Mountain region, where fuel prices are $0.064 per gallon higher than last year.
Diesel prices dropped $0.03 per gallon, which is $0.202 per gallon lower than this time last year.
by John Keller | Jun 28, 2012 | Fuel Pricing Technology
Google entered the mobile tablet market today with the launch of their Nexus 7. With a $199 price point, this product is a direct competitor to the Kindle Fire, and provides another less expensive alternative to the iPad.
The Google browser built in to the Nexus 7 has already proven to be an effective way for fuel price managers to gain access to fuel pricing software systems like PriceAdvantage while away from their desk. PriceAdvantage customers already use their tablet and smart phone devices while traveling, at meetings outside the office, or at home, to review proposed prices based on established competitor business rules, and to remotely send fuel price changes to the street. PriceAdvantage customers can then check their mobile device for confirmation of when the price change was complete.
With the Google Nexus 7, fuel price managers have another mobile tablet option to manage fuel prices across their c-stores.
by John Keller | Jun 28, 2012 | Industry News
According to an industry analyst, oil prices and gasoline fuel prices will remain near current levels throughout the driving season this summer.
Earl Sweet is a Managing Director and Senior Economist at BMO Capital Markets, a financial investment firm. His 2012 summer fuel price prediction is based on the state of international economics, namely the European debt and banking crisis. Mr. Sweet believes these economic conditions outweigh the supply risks that have driven fuel prices down in recent months.
From a fuel price management perspective, we may see margins start to erode as markets are content with lower profits as time passes and they make up for a weak early part of the year.
by John Keller | Jun 27, 2012 | Fuel Price Management, Industry News
The national motorist association AAA is predicting the highest number of travelers for the Fourth of July holiday in the past 10 years, thanks in part to falling gasoline fuel prices. In some states, AAA is seeing gas prices drop a penny a day. The average price in South Carolina is already at $2.98 per gallon, with Mississippi, Tennessee, and Alabama averaging just over $3 per gallon. AAA sees fuel price drops accelerating, and predicts several of these states may soon join South Carolina under the $3 per gallon level.
AAA predicts 42.3 million travelers on the road for the Fourth of July holiday. That is nearly 5% more than last year. Besides falling gasoline fuel prices, having the holiday on a Wednesday provides a substantial boost because of the weekend on either end.
From a fuel price management perspective, expect higher fuel volumes for this holiday over last year.
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.
