Sale expected to close Sept. 15. Israel-based EZ Energy Ltd. is selling its U.S. gas station and c-store operations for $64 million to a foreign operator, whose name has yet to be disclosed, Globes reported. The proceeds derived from the sale are expected to cover all the company’s debt to Israeli bondholders and the loans [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The U.S. fell for the 13th consecutive week through July 2 and, at $3.356 gallon, are at a six-month low. So, just as one of the busiest travel periods in the US was underway during the July 4th holiday, retail gasoline prices were averaging at their [...]
by Brian L. Milne, Refined Fuels Editor, Telvent DTN Even with the rapidly approaching July 4th holiday, with holiday travel seen near the 2007 record this year, retail gasoline prices are continuing to decline as economic expansion cools and US unemployment remains high. Price watchers should expect the Energy Information Administration to report its twelfth [...]
by Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration (EIA) chopped 19 cents off the previous average it expected for U.S. gasoline prices this summer to a new $3.60 gallon estimate, while anticipating this year’s average for regular grade gasoline at $3.56 gallon and $3.51 gallon in 2013. That compares with [...]
By Brian L. Milne, Refined Fuels Editor for Telvent DTN From the Friday before Memorial Day to June 1, the gasoline futures contract took a 23.61 cents or 8.2% plunge in value, with the contract early Monday (6/4) trading at its lowest point in 2012 at $2.5971 gallon. The precipitous drop came with a host [...]
Heartland Payment Systems, a payment processor, launched the next-generation of network services and inventory monitoring solutions for the petroleum and convenience store market. SmartLink ProDistributor, powered by FuelQuest, combines Heartland’s state-of-the-art network security and connectivity with the automated inventory control and planning of FuelQuest ForeSite, a fuel inventory and decision support technology. It offers features [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Based on the Energy Information Administration’s (EIA) Short-term Energy Outlook for May, its $3.79 gallon U.S. average for regular grade gasoline on May 7 will also be the price that gasoline averages this summer, which it defines from April through September. If realized, the $3.79 gallon [...]
Consumers enjoy regular savings on high-quality fuel with grocery rewards programs. Fuel prices are top of mind for many consumers and finding ways to save at the pump continues to be a priority. That’s why Shell is reminding consumers that they can turn their everyday purchases on groceries into significant savings on high-quality fuel at [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Department of Labor’s non-farm payroll report for April showing job creation at a paltry 115,000 which was much less than expected by the market triggered a selling frenzy in oil futures trading on the New York Mercantile Exchange, with the data suggesting slowing economic growth [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were mixed in metropolitan markets across the U.S during the final week of April, but retail gasoline prices should continue moving lower in early May. At $3.87 gallon on April 23, the Energy Information Administration’s US average for retail gasoline prices was at [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration’s (EIA) U.S. retail gasoline average for regular grade snapped more than two months of consecutive gains, inching down 0.2 cents to $3.939 gallon on April 9 which made it the second weekly decline in the average out of the past 16 weeks [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The national gasoline average for regular grade provided by the Energy Information Administration (EIA) is rapidly approaching $4 gallon, reaching $3.941 gallon on April 2, which was the tenth consecutive weekly increase in the average. Moreover, the average has increased in 14 of the last 15 [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices, with regular grade averaging at a 10-month high of $3.867 gallon nationally per the Energy Information Administration’s (EIA) latest weekly release, is set to continue higher, with several analysts projecting a $4.10 to $4.15 gallon average before a retreat in pump prices. Throughout [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in the U.S continue to move higher and climbing wholesale costs in most major metropolitan markets through mid-March show the trend will continue into April. Moreover, the swift increases in gasoline costs that are being passed through the supply chain suggest the U.S. [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices surged in February, with the futures contract soaring to a high last seen on July 28, 2011, with gasoline demand during the summer months the highest. The gasoline futures contract, called RBOB (Reformulated Blendstock for Oxygenate Blending) and trades on the New York [...]