A total of 18 Open Pantry stores—14 of which are fuel locations—acquired in Wisconsin. 7-Eleven Inc. has completed a transaction to acquire 18 Open Pantry convenience store locations in Wisconsin, primarily in the greater Milwaukee and Madison markets. Terms of the deal were not disclosed. All 18 stores are located approximately in the lower third [...]
Gilbarco Veeder-Root, Shell Oil Products US and Motiva Enterprises LLC signed an agreement, letting Gilbarco offer Passport services to Shell-branded gas stations. Gilbarco Veeder-Root, Shell Oil Products US and Motiva Enterprises LLC (Shell) signed an agreement to let Gilbarco provide Passport service offerings to thousands of Shell-branded stations in the U.S. The agreement gives Shell-branded [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Gasoline prices in spot market trading following the Memorial Day weekend were moving higher alongside an advance by gasoline futures known as the Reformulated Blendstock for Oxygenate Blending contract that trades on the New York Mercantile Exchange. Trading has been relatively thin so far in post-holiday [...]
Agreements with two fuel distributors cover two-thirds of the 218 BP-branded sites formerly supplied by Green Valley Oil. BP has signed contracts with two New England fuel distributors to supply independent BP-branded gas station operators in the region. Lehigh Gas Corp. has agreed to supply 69 BP-branded stations in Massachusetts and 19 BP-branded sites in New [...]
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices moved sharply lower during the third week of April, coming under heavy selling pressure as those in the market not hedging liquidated long holdings on growing sentiment that there will be enough supply this summer to avoid a tight market. There were a handful [...]
Oil company’s Pump Rewards platform allows customers to redeem cents-per-gallon rebates to save on gas purchases. BP Products North America Inc. announced today the launch of Pump Rewards, a new payment technology that lets loyal BP customers earn cents-per-gallon rebates and redeem them at BP gas stations to experience an instant rollback of gas prices. [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration’s (EIA) U.S. average price for regular grade gasoline spiked to a $3.721 gallon 8-1/2 month high on Feb. 27, and is poised for a further advance despite mixed wholesale costs in early March. Retail prices have never been this high this early [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in the U.S., which have already reached a nearly five-month high, are set to again increase as wholesale costs continue to climb on multiple factors from geopolitical risk to unexpected refinery outages. At $3.523 gallon as of Feb. 13, the Energy Information Administration’s [...]
When it comes to competing in the fuel business, convenience store retailers must fight to maintain their market share. By Jim Callahan. I received an inquiry from a small retailer in the Northeast recently who had lost a huge chunk of his fuel volume due to some fierce new competition. This is an issue that [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN In its most recent Short-term Energy Outlook, the Energy Information Administration (EIA) pointed to a 25% probability based on activity in the financially traded gasoline market that its U.S. average price for regular grade gasoline would top $4 gallon in June. “Recent options and futures price [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline values continue to find upside price support from refinery closures impacting the New York Harbor, with markets quickly popping higher on news of new unplanned downtime at other refineries even though there’s ample slack in the system while preliminary data from the Energy Information [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices for the week-ended Jan. 30 were sharply higher in most major metropolitan markets across the U.S. , with those costs pushed up by a string of refinery closures due to economics and unscheduled repairs. On Friday (1/27), the New York Mercantile Exchange RBOB [...]
Today there is approximately one c-store per 2,100 U.S. residents. The U.S. convenience store count increased to a record 148,126 stores as of Dec. 31, 2011, a 1.2% increase (1,785 stores) from the year prior, according to the latest NACS/Nielsen Convenience Industry Store Count. The convenience retailing industry has seen remarkable growth over the last [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN While mixed, wholesale gasoline prices mostly increased in major metropolitan markets across the U.S. during the third week in January, setting the stage for another increase in the U.S. retail average, which increased for the fifth consecutive week through Jan. 16. The Energy Information Administration (EIA) [...]
Association urges end to oil industry tax breaks in letter to President Obama. American ethanol production is creating jobs, energizing rural economies, reducing oil imports, and helping all consumers save money at the pump emphasized the Renewable Fuels Association said in a letter to President Obama as he prepares for the State of Union address [...]