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Marathon Petroleum Reports Strong Q3 Profits

As Marathon Petroleum cuts costs, fuel prices continue to climb, resulting in high Q3 profits. Marathon Petroleum Corp., which split from Marathon Oil Corp. earlier this year, reported soaring third quarter profits this week, according to Bloomberg Businessweek. Earnings totaled $1.13 billion, or $3.16 per share, for the three months ended Sept. 30, more than

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Mansfield Oil, Gevo Form Strategic Alliance

“Through this partnership, we are working to develop new fuels formulated with renewable isobutanol that expand the renewable content of the fuels we supply,” says Mansfield’s executive vice president. Mansfield Oil Co. and Gevo Inc., a renewable chemicals and advanced biofuels company, have entered into a strategic marketing alliance to efficiently distribute isobutanol-based fuel into

Pride & Perseverance

At a Glance: NOCO Express With 32 locations in Western New York and Rochester, NOCO Express is among the most recognized fuel brands in Western New York. The oil company has a 77-year history of providing fuel, lubricants and home heating oil to the market. Founded: 1933 Convenience Store and Fuel Brand: NOCO Express Jobber

Gasoline Price Uptrend Slows

By Brian L. Milne, Refined Fuels Editor, Telvent DTN Drivers across most major metropolitan markets in the United States should see the increase in retail prices at their local outlets freeze in the week leading up to Easter Sunday, with some markets potentially seeing a decrease at the pump. The forecast is based on a

GM Calls For More Ethanol Fuel Stations

General Motors Co’s (GM) growing output of vehicles that can run on ethanol-gasoline blends won’t help cut polluting emissions or U.S. dependence on foreign oil until more stations begin dispensing ethanol, according to GM Vice Chairman Tom Stephens, Reuters reported. Half of GM’s vehicle lineup will be able to run on a mix of 15%

BP Aims To Offer Price Rollback Technology Network-wide

BP Products North America Inc. plans to be the first fuel company in the U.S. to deliver price rollback technology that awards instant cents-off-per-gallon savings at the pump to consumers throughout its BP-branded network. As of Jan. 31, more than 350 eligible sites have begun the BP-funded and managed technology deployment process with the remainder of

Tennessee Fuel Prices Drop

Gas prices in Tennessee have dropped nearly 10 cents a gallon since the beginning of 2010, the Memphis Business Journal reported. The fall mirrors the average price per gallon in the U.S., which also has declined, according to reports from AAA Auto Club South. The average price per gallon in Tennessee for regular unleaded is

Bumpy Ride for Gasoline Prices

By Brian L. Milne, Refined Fuels Editor, Telvent DTN The first week in February saw the most price volatility in the wholesale gasoline market since late September 2009 when crude oil started its march higher into October and pulled fuel prices up too, with wild price swings triggered during periods of market uncertainty. Interestingly though,

Valero Renewables Acquires Jefferson Ethanol Plant

Valero Renewable Fuels Company LLC, a wholly owned subsidiary of San Antonio-based Valero Energy Corporation has closed on the purchase of an ethanol plant from Renew Energy. The plant, located near Jefferson, Wis., has an annual production capacity of 110 million gallons. Valero paid $72 million for the plant. The purchase gives Valero Renewables a

Gulf Oil Acquires Gulf Brand From Chevron

Framingham, Mass.-based Gulf Oil LP, a division of Cumberland Farms Inc., has acquired the rights to the Gulf brand in the U.S. from Chevron USA Inc., the Boston Business Journal reported. Terms of the deal were not disclosed. Gulf Oil began using the Gulf name in 1986 through a licensing agreement with San Ramon, Calif.-based

Atlas Oil Honors Marines

Atlas Oil Company’s charitable arm, Atlas Cares, is holding its third annual Marine Holiday Party on Saturday, Jan. 9, from noon to 4 p.m. The festivities will take place at Selfridge Air National Guard Base in Mt. Clemens, Mich., and attendees will include Sam Simon, CEO and owner of Atlas Oil Company, 400-500 Marines, their

Gasoline Starts New Year Moving Higher

Retail gasoline across the major metropolitan markets of the U.S. brought in the New Year with price increases, with pump prices to continue climbing during the first full week of 2010. Underpinning the advance has been a rallying financial market for crude oil and gasoline, with crude oil again above $80 per barrel and gasoline

Riding the Hess Express

The first Hess gas station was opened in 1960, and the first Hess Express opened in 1997 in Daytona Beach, Fla. Hess Express was named Chain of the Year nine years ago amidst its aggressive southern retail expansion. “When we were recognized with the Chain of the Year award in 2000, we had about 900

Changes Abound at ExxonMobil

Since winning CSD’s Chain of the Year award in 2003, Exxon Mobil Corp. has been busy, beefing up it’s foodservice program at On the Run stores, then forming a new strategy that moves away from direct-store operations and beating out Wal-Mart for the top spot on the Fortune 500 list. But it’s the changes at

Dual Branding Strategy Drives Chevron

It’s been a challenging couple of years for convenience store operators, marked by wild fuel price fluctuations and exorbitant credit card fees. Despite the adversity, Chevron stood apart as one of the premier industry leaders. By advancing its Image Refresh program at ExtraMile convenience stores, growing the Texaco brand and introducing a no-fee credit card

Fabulous Freddy’s Fuels with Flair

Fabulous Freddy’s is wooing new customers with old tricks. Resurrecting the customer service of decades past, the seven-store chain headquartered in Las Vegas, offers its patrons full-service treatment at the pump, at self-service prices. “Our company’s mission statement is to provide fabulous service to everyone, and one of the ways we do that is to

Dealers Making a Difference

Pride, hard work and HOPE. These are the three principles that drive Levent Sertbas every day. As president of Sertbas Inc. in Paramus, N.J., Sertbas has had to deal with a number of concerns while operating his two New Jersey On the Run convenience stores, but the two most pressing issues he’s been dealing with

Tracking the Trends

An otherwise tough year for convenience stores was balanced out by strong retail fuel margins from the unprecedented drop in wholesale fuels prices during the fourth quarter of 2008, according to National Association of Convenience Stores’ (NACS) 2009 State of the Industry report. However, credit card fees continue to take a toll on industry profitability.

Driving Car Wash Sales

Doggy Drive Throughs One of the faster growing car wash trends is the do-it-yourself dog wash, which appears largely driven by financial considerations on the part of dog owners. No wonder: With dog grooming salons charging anywhere from $25 to $100 to bathe Fido these days, a $5 or even $10 self-serve alternative is a

Handee Marts Garners Ethics Award

Don’t think customer service makes a difference? Handee Marts’ President and CEO Mike Triantafellou would disagree. Handee Marts, which operates 67 7-Eleven convenience stores in Pittsburgh, was honored recently with the Pittsburgh Business Ethics Award (PBEA), presented by the Pittsburgh Chapter of the Society of Financial Service Professionals, in conjunction with the David Berg Center

Recovering With New Tax Breaks

Shortly after last November’s election, Thomas Zaucha, president and CEO of the National Grocers Association (NGA) called upon the President-elect to kindle the economy with a stimulus package that included “tax incentives used by retailers and wholesalers to invest in technology, energy saving equipment and trucks for their businesses.” President Obama’s reply, The American Recovery

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