by John Keller | Apr 8, 2011 | Retail Fuel Margins
According to an OPIS Price Watch Alert issued today, OPIS predicts the average fuel prices in the US will hit $3.75/gallon this week. The national average hasn’t been that high since September 21, 2008. Soon after that date, the Lehman Brothers financial crash ultimately brought fuel prices down below $1.70/gallon by the end of 2008.
The alert goes on to attribute the ongoing price increase to “several cents of pure catching up for retail gasoline numbers”.
by John Keller | Apr 4, 2011 | Fuel Price Management, Industry News
In today’s US Energy Information Adminstration weekly fuel price report, the USEIA revealed a $.09 increase for the national average price of Unleaded Regular fuel. The US national average retail fuel price of unleaded gasoline now sits at $3.68/gallon, a gallon of midgrade rose to $3.80, and a gallon of premium rose to $3.92. Fuel prices have now risen $.50 in the last six weeks, and are at their highest levels since September 2008.
The regional area hit hardest was the Midwest, where the average price for unleaded rose $.13 to $3.68/gallon. The lowest increase of any region was $.04 on the West Coast, where a gallon of unleaded fuel averages $3.95.
As for individual states, Ohio had the largest fuel price increase of the week, where prices rose $.22/gallon for unleaded, with an average price of $3.75/gallon.
The average price of Unleaded in California remained above the $4 barrier, reaching $4.05/gallon. In Los Angeles and San Francisco, a gallon of Unleaded is priced the highest in any major city, at $4.09 and $4.08 per gallon.
by John Keller | Mar 28, 2011 | Industry News, Retail Fuel Margins
In today’s US Energy Information Adminstration weekly fuel price report, the USEIA revealed another $.03 increase for Unleaded Regular fuel. The US national average retail fuel price of unleaded gasoline now sits at $3.59/gallon, a gallon of midgrade rose to $3.71, and a gallon of premium rose to $3.83. Fuel prices have now risen $.46 in the last six weeks, and are now at their highest levels since September 2008.
The regional area hit hardest was the West Coast once again, along with the Rocky Mountain region, where the average price for unleaded rose $.06 to $3.91/gallon on the West Coast and $3.44/gallon in the Rocky Mountains. Despite the $.06 increase, the fuel prices in the Rocky Mountains are still the lowest there of any other region. The lowest increase of any region was $.01 in the Central Atlantic, where a gallon of unleaded is $3.57.
As for individual states, Washington had the largest fuel price increase of the week, where prices rose $.08/gallon for unleaded, with an average price of $3.77/gallon.
The average price of Unleaded in California broke the $4 barrier for the first time in recent history, reaching $4.02/gallon. In Los Angeles and San Francisco, a gallon of Unleaded is priced the highest in any major city, at $4.06 and $4.04 per gallon.
by John Keller | Mar 24, 2011 | Fuel Price Management, Retail Fuel Margins
The US Energy Information Administration just released their latest “This Week In Petroleum” report with updates regarding retail fuel price management. Here are the highlights.
The U.S. average retail price of regular gasoline decreased half of a cent versus last week, the first decline since January 31, 2011. At $3.56 per gallon, gasoline is $0.74 per gallon higher than last year at this time. The biggest decrease was on the Gulf Coast, where the gasoline price fell almost two cents. The gasoline average on the East Coast lost a penny on the week and the Midwest price was down just under a cent. Moving in the other direction, the West Coast average moved up about two cents. In the Rocky Mountains, the price was almost three cents higher than last week. Despite this increase, the gasoline price in the Rocky Mountains remained the lowest in the country at $3.39 per gallon. The most expensive gasoline among the major regions is on the West Coast, where the average retail price is $3.86 per gallon.
Diesel prices fell for the first time in sixteen weeks, albeit a small decrease, with the national average down just a tenth of a cent from last week. At $3.91 per gallon, the diesel price is $0.96 per gallon higher than last year at this time. Diesel prices were mixed across the country, with prices falling less than a penny on the East Coast, Gulf Coast, and in the Midwest. Prices in the Rocky Mountains were up almost four cents. The average on the West Coast was also up on the week, adding over a penny to last week’s price.
by John Keller | Mar 14, 2011 | Fuel Price Management, Fuel Pricing Strategy, Retail Fuel Margins
In today’s US Energy Information Adminstration weekly fuel price report, the USEIA revealed another $.04 increase. The US national average retail fuel price of unleaded gasoline now sits at $3.56/gallon, a gallon of midgrade rose to $3.69, and a gallon of premium rose to $3.80. Fuel prices have now risen $.42 in the last month, and are now at their highest level since September 2008.
The regional area hit hardest was the West Coast, where the average price for unleaded rose $.08 to $3.84. Next was the Rocky Mountain region where unleaded rose $.06 to an average price of $3.35, though fuel prices are still the lowest there than in any other region. The lowest increase of any region was $.03 in the Gulf Coast, where a gallon of unleaded is $3.43.
As for individual states, Ohio had the largest fuel price increase of the week, where prices rose $.09/gallon for unleaded, with an average price of $3.54/gallon.
In Los Angeles and San Francisco, a gallon of Unleaded is priced at $3.97 and $3.96 per gallon. Mid-grade in these cities is now priced above $4.00 for the first time in recent history, at $4.07/gallon.
by John Keller | Mar 11, 2011 | Fuel Pricing Strategy, Retail Fuel Margins
Alon USA in their management reports revealed their retail fuel margin results for Q4 2010 and for the entire 2010 fiscal year.
Management reported retail fuel margins for the fourth quarter were 14.8 cents per gallon, versus 10.8 cents in the fourth quarter of 2009. Retail fuel margins for the entire 2010 fiscal year hit 12.9 cents per gallon, compared to 13.9 cents per gallon in FY2009.
The annual fuel volume per site per month was 39,000 gallons. According to NACS, the average c-store sells 121,000 gallons of fuel per month annually. That means Alon stores sold about one-third of the national monthly average.
The total number of stores at the end of the fiscal year was 304, four stores fewer than in 2009. Alon USA is the largest 7-11 Licensee in the US, operating sites across the southwest under the FINA brand.
by John Keller | Mar 10, 2011 | Fuel Price Management, Fuel Pricing Technology, Industry News
The 2011 Pricelock Fuel Pricing Survey report revealed 75% of the US Business Fleets surveyed said they are willing to drive out of their way to save 25 cents per gallon of gas, and 25 percent of those surveyed said they would drive five miles or more for such savings.Respondents included 451 executives, fleet managers and other industry professionals associated with small, medium and large fleets representing a broad range of industries.
The report also showed 65 percent of the U.S. business fleets surveyed are forced to absorb higher fuel costs directly and suffer the bottom-line impact, while only 16 percent are able to pass on rising fuel costs by increasing prices to their consumers.
by John Keller | Mar 10, 2011 | Fuel Pricing Strategy, Retail Fuel Margins
Delek US Holdings in their management reports revealed their retail fuel margin results for Q4 2010 and for the entire 2010 fiscal year.
Retail fuel margins for the fourth quarter were 13.1 cents per gallon, versus 12.9 cents in the fourth quarter of 2009. Retail fuel volumes for Q4 decreased approximately 5 percent from the same quarter a year ago to 103.1 million gallons. But with the decrease in the average number of stores from 450 to 417, that equates to 82,333 gallons per store per month on average, slightly up from last year.
Management reported Retail Fuel margins for the entire 2010 fiscal year hit $.161 per gallon, compared to $.136 per gallon in FY2009. The annual fuel volume per store per month was 82,500 gallons. According to NACS, the average c-store sells 121,000 gallons of fuel per month annually. That means Delek stores sold about 30% less than the national monthly average.
Delek closed the fiscal year with 412 sites in operation throughout Alabama, Georgia, Tennessee, Arkansas, Louisiana, Mississippi, Kentucky, and Virginia. Sites are branded under the name MAPCO Express®, MAPCO Mart®, East Coast®, Fast Food and Fuel™, Favorite Markets®, Delta Express® and Discount Food Mart™.
by John Keller | Mar 9, 2011 | Fuel Price Optimization, Retail Fuel Margins
Casey’s General Stores reported Q3 retail fuel margins were at $.139/gallon. This exceeded the management annual goal of $.135/gallon by four-tenths of a cent. Same store gallons sold were up 3.5% for the quarter.
For the first nine months of the fiscal year, management reported retail fuel margins of $.151/gallon, and total gallons sold were 1.1 billion. Management reports the total number of sites is now at 1618, an increase of 88 sites from the beginning of the fiscal year.
by John Keller | Mar 7, 2011 | Fuel Price Management, Fuel Pricing Strategy, Industry News
In today’s US Energy Information Adminstration weekly fuel price report, the USEIA revealed another $.14 increase. The US national average retail fuel price of unleaded gasoline now sits at $3.52/gallon, a gallon of midgrade rose to $3.63, and a gallon of premium rose to $3.75.
Following last week’s price increase, fuel prices have now risen $.34 in two weeks.
The regional areas of New England and the Gulf Coast both saw the average gallon of unleaded fuel rise $.16/gallon. The lowest increase of any region was $.11 in the Rocky Mountains, which continues to have the lowest fuel prices in the nation, where a gallon of unleaded is $3.29.
As for individual states, Texas had the largest fuel price increase of the week, where prices rose $.17/gallon for unleaded, with an average price of $3.40/gallon.
In Los Angeles and San Francisco, a gallon of Unleaded is priced at $3.89 and $3.91 per gallon. Premium is priced above $4.00 in both cities, at $4.09 and $4.11/gallon.
