by John Keller | Feb 1, 2011 | Retail Fuel Margins
Murphy Oil Corporation announced in their financial results for 2010 that retail fuel margins for the year were $.114 per gallon, higher than 2009 by $.031. Retail fuel margins for Q4 were at $.074 per gallon, higher by $.006 per gallon than last year’s Q4.
Across their 1099 stores, Murphy sold 306,646 per store month, less than 2009 by just under 6,000 gallons. According to NACS, the average c-store sells 121,000 gallons of fuel per month. That means each Murphy store sells more than 2.5 times the retail fuel national average.
David M. Wood, President and Chief Executive Officer, commented, “Our U.S. retail station network showed good performance during the year and will further expand its asset base in 2011.”
by John Keller | Feb 1, 2011 | Customer News, Fuel Price Management, Industry News, Retail Fuel Margins
Valero Energy Corporation announced in their financial results for 2010 that US retail fuel margins for the year were $.140 per gallon, higher than 2009 by $.014. Retail fuel margins for Q4 were at $.086 per gallon, lower by $.026 per gallon than last year’s Q4.
Across their 990 company-operated sites in the US, Valero sold 154,699 gallons per store per month, less than 2009 by just 3132 gallons per month.
Valero is one of the largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon brands. Based in San Antonio, Valero is a Fortune 500 company with approximately 20,000 employees.
Read the entire financial report here.
by John Keller | Jan 28, 2011 | Retail Fuel Margins
In their preliminary fourth quarter 2010 operating results update, Susser Holdings announced they expect their 2010 retail fuel margins to be in the range of $.183 per gallon. That would be a $.04 per gallon increase in retail fuel margins for the year over 2009.
Susser Holdings has 525 stores, a net gain of 13 stores over 2009. Retail fuel gallons sold per store per week is expected to grow 2.5% above 2009.
by John Keller | Jan 26, 2011 | Fuel Price Management, Fuel Pricing Strategy, Industry News
Fuel prices rose again for the eighth straight week, according to the US Energy Information Administration. The US national average retail fuel price of unleaded gasoline rose 1 cent to $3.11/gallon, while a gallon of midgrade remained the same at $3.22, and a gallon of premium rose one cent to $3.35.
The largest fuel price increases were in the Rocky Mountain region, where the average gallon of unleaded gas rose two cents to $2.91/gallon. That region still has the lowest fuel prices in the country, one of only two regions where unleaded remains below $3.00/gallon. The other region below $3.00/gallon is the Gulf Coast, where the average price of unleaded is $2.96.
As for individual states, Minnesota had the largest fuel price increase of the week at $.07/gallon for unleaded, with an average price of $3.16/gallon. Ohio led the states with the largest unleaded fuel price decrease, dropping four cents to $3.06/gallon. Texas was the only other state with a reported price decrease, where unleaded fuel dropped a penny to $2.95/gallon. California again has the highest fuel prices in the country where the average price for a gallon of unleaded is $3.35, up one cent from last week. New York state remains the second highest priced, where a gallon of unleaded is up a penny to $3.34/gallon.
Chicago reported the only local fuel price decrease in the country, where the price of unleaded dropped two cents to $3.22/gallon. Denver had the largest increase of any city in the country, where the price of unleaded rose four cents to $2.94/gallon.
by John Keller | Jan 19, 2011 | Fuel Price Management, Fuel Pricing Strategy, Industry News
Fuel prices rose again for the sixth straight week, according to the US Energy Information Administration. The US national average fuel price of unleaded gasoline rose a penny to $3.08/gallon, while a gallon of midgrade rose two cents to $3.20, and a gallon of premium rose two cents to $3.33.
The largest fuel price increases were on the West Coast, where the average gallon of unleaded gas rose three cents to $3.26/gallon. The Lower Atlantic states also rose $.03/gallon to $3.05 for a gallon of unleaded.
As for individual states, Minnesota was hit with a $.06/gallon weekly increase for unleaded, with an average price of $3.09/gallon. Colorado continues to have the lowest average fuel prices in the US where a gallon of unleaded is $2.86, up three cents from last week. California again has the highest fuel prices in the country where the average price for a gallon of unleaded is $3.33, up three cents from last week. New York state has the second highest prices in the nation, where a gallon of unleaded is $3.30/gallon, up a penny from last week.
by John Keller | Jan 19, 2011 | Fuel Price Management, Fuel Pricing Strategy, Industry News
Fuel prices rose again for the seventh straight week, according to the US Energy Information Administration. The US national average retail fuel price of unleaded gasoline rose 1.5 cents to $3.10/gallon, while a gallon of midgrade rose two cents to $3.22, and a gallon of premium rose one cent to $3.34.
The largest fuel price increases were in the Rocky Mountain region, where the average gallon of unleaded gas rose three cents to $2.89/gallon. That region still has the lowest fuel prices in the country, one of only two regions where unleaded remains below $3.00/gallon. The other region below $3.00/gallon is the Gulf Coast, where the average price of unleaded is $2.95.
As for individual states, Colorado had the largest fuel price increase of the week at $.06/gallon for unleaded, with an average price of $2.92/gallon. That’s still the lowest price for unleaded of any state. California again has the highest fuel prices in the country where the average price for a gallon of unleaded is $3.34, up one cent from last week. New York state remains the second highest priced, where a gallon of unleaded is up three cents to $3.33/gallon.
Chicago reported the only local fuel price decrease in the country, where the price of unleaded dropped three cents from $3.31/gallon to $3.28/gallon.
by John Keller | Jan 10, 2011 | Industry News
(Reuters) – Gasoline prices in the United States this year will rise to an average of about $3.50 a gallon, a top Toyota Motor Corp executive said on Monday.
“What we see is national average gas prices will remain above $3 a gallon through 2011, approaching $3.50,” Bob Carter, the Toyota brand chief for the United States, told Reuters at the North American International Auto Show in Detroit.
In states with high taxes and other costs, such as California, fuel prices could hit $4 a gallon, the highest level since 2008, he said.
Last week, Toyota officials said U.S. gas prices were heading toward $4 a gallon this year.
by John Keller | Jan 7, 2011 | Fuel Price Optimization, Industry News, Retail Fuel Margins
The US Energy Information Administration (US EIA) reported the U.S. average retail fuel price for a gallon of gasoline increased for the fifth straight week, advancing almost two cents versus last week to $3.07 per gallon.
That price is 41 cents more than the price a year ago, the EIA noted in the January 5 issue of “This Week in Petroleum.”
Fuel prices on the Gulf Coast jumped two and a half cents, the largest increase in the country, followed by the Rocky Mountain region, where prices were over two cents higher. The East Coast, West Coast, and Midwest all saw fuel prices rise under two cents, in line with the national average increase. Prices on the West Coast were the highest in the country at $3.24 per gallon, while prices in the Rocky Mountains were the lowest at $2.85 per gallon.
Diesel fuel prices also advanced for a fifth consecutive week, with the average retail diesel price increasing almost four cents per gallon, the EIA reported. The national average for a gallon of diesel is now $3.33 per gallon, 53 cents higher than last year at this time. As with gasoline, prices on the Gulf Coast led the way, gaining a nickel versus last week. East Coast prices were up more than four cents. Diesel was more than three cents higher on the West Coast. Rounding out the gains for the week, both the Midwest and Rocky Mountains increased about two cents. This marks the thirteenth increase in the last fourteen weeks for the Rocky Mountains.
This article appeared in National Petroleum News.
by John Keller | Dec 22, 2010 | Fuel Price Management, Industry News
Fuel prices trend downward from Labor Day to December. Or so has been the consistant pattern according to the US Energy Information Administration who has tracked retail fuel prices since 1990.
But in 2010, fuel prices reversed this pattern, rising $.30/gallon from Labor Day to mid-December. As a comparison, over the 2004 through 2007 period and in 2009 (2008 is excluded due to the rapid run-up and subsequent crash in crude oil prices over the course of that year), the national average price for a gallon of regular gasoline fell an average of 22 cents between Labor Day and the middle of December.
The $2.98 per gallon national average price of regular gasoline on December 22, 2010 is the second highest on US EIA record for the third week of December, surpassed only by 2007 when the average price reached $3.00 per gallon.
The US EIA explains this unusual phenomenon on several factors:
[fancy_list style=”circle_arrow”]
- Strengthening demand combined with a tightening U.S. supply picture (particularly on the East Coast)
- In October and November, a planned outage at Irving Oil’s St. John refinery in Canada, a major supplier of gasoline to the United States, coupled with port and refinery strikes in France, limited the amount of gasoline available for import.
- In late August, gasoline inventories on the East Coast were in excess of their five-year average by over 11 million barrels; however, by the end of November, that excess inventory had been completely eroded, with inventory levels almost 3 million barrels under the five-year average.
- Crude oil prices have continued to rise as the market has become more confident that strong global oil demand growth will continue into 2011.
[/fancy_list]
by John Keller | Dec 15, 2010 | Fuel Price Management, Industry News
According to the US Energy Information Administration today, retail fuel prices across the US rose again this week.
The U.S. average retail fuel price for a gallon of gasoline increased for the second straight week, up more than two cents from last week to $2.98 per gallon, and $0.38 per gallon higher than last year at this time. West Coast gasoline prices increased more than three cents, the largest gain versus last week. West Coast gasoline remains the most expensive in the country at $3.19 per gallon. Prices on the East Coast and in the Rocky Mountains were up almost three cents, while prices on the Gulf Coast gained more than two cents. Rounding out the regions, the Midwest saw its average gasoline price increase a penny from last week.
