By Brian L. Milne, Energy Editor, Schneider Electric The national average price for regular grade gasoline increased for eight weeks straight through Mar. 31 according to the Energy Information Administration, reaching a nearly seven-month high at $3.579 gallon, and there’s more upside to go. With limited exception, wholesale gasoline costs in major metropolitan markets across…
Convenience Store Sales Post Record Sales
U.S. convenience stores reached record in-store sales in 2013, with sales climbing 2.4% to $204 billion. Combined with motor fuels sales of $491.5 billion, overall convenience store sales were $695.5 billion, according to figures released today by the National Association of Convenience Stores (NACS). The industry’s 2013 numbers were announced at the NACS State of…
Upside for Wholesale Gasoline Costs Slows in Early March
By Brian L. Milne, Energy Editor, Schneider Electric The upside push in wholesale gasoline costs slowed in early March, with supplier offers at the terminal known as rack postings shallowly mixed at major metropolitan markets across the U.S. The mixed offers follow an increase by the U.S. retail gasoline price average to a $3.479 gallon…
Bear Aggression Triggers Bull Reaction in Oil Prices
Brian L. Milne, Energy Editor, Schneider Electric The weekend invasion of Ukraine by Russia has spiked global crude oil prices, hiking the geopolitical risk premium in crude values while the Obama administration has asked European countries to cut their oil and gas contracts with Russia, and to instead source crude from Africa, the Middle East…
Gasoline Demand Seen Drifting Lower amid Snowstorms
By Brian L. Milne, Energy Editor, Schneider Electric Snowstorms are again enveloping the heavy population centers of the Northeast and Mid-Atlantic, with the winter weather expected to limit driving, retarding demand for gasoline which fell to a one-year low during the week that the “polar vortex” descended upon a large swath of the United States.…
Worrisome Jobs Data and Seasonal Pressure for Gasoline
Brian L. Milne, Energy Editor, Schneider Electric Stabilizing in the mid-$2.60 gallon range during the first full week of 2014, the New York Mercantile Exchange RBOB (gasoline) futures contract lent upside support for wholesale gasoline costs in several large metropolitan markets across the U.S. coming into the second week of January. The boost in gasoline…
Gasoline Costs Drop with the New Year’s Eve Ball in N.Y.
By Brian L. Milne, Energy Editor, Schneider Electric In financial trading for gasoline, the New York Mercantile Exchange RBOB futures contract with nearest delivery erased in short order a late December advance that peaked at a $2.8463 gallon 3-1/2 month high the day following Christmas in early trading in 2014 on sentiment gasoline demand would…
Gasoline Ending 2013 with Strong Demand Burst
BY Brian L. Milne, Energy Editor, Schneider Electric Preliminary data from the Energy Information Administration (EIA) shows unseasonably strong demand for gasoline during the fourth quarter, holding above the five-year average for nearly all weeks during the last three months of the year after keeping below the seasonal average consistently during the first six months…
Newcastle Introduces Limited-Edition Cabbie Black Ale
Company also launches Taxi Magic partnership to promote responsible alcohol consumption. Just in time for the holidays, Newcastle is introducing a new limited-edition brew that will have fans calling for a Cabbie in more ways than one. Beginning this month, beer drinkers can hail a Newcastle Cabbie Black Ale in bars and liquor stores nationwide.…
Diminished Upside Price Pressure for Gasoline Expected in 2014
By Brian L. Milne, Energy Editor, Schneider Electric Reformulated Blendstock for Oxygenate Blending gasoline futures traded on the New York Mercantile Exchange fell to a one-month spot low Dec. 13 at $2.6152 gallon, pressured on building supply and weakening demand. NYMEX RBOB futures values are benchmarked against in the spot gasoline market and guides suppliers…