By Brian L. Milne, Energy Editor, Schneider Electric Wholesale gasoline costs moved lower coming into the second week of December, reflecting sliding values in spot and futures trading that will also prompt another decline in retail prices, which the Energy Information Administration (EIA) last said averaged nationally at a $3.394 gallon five-month low. The U.S. [...]
By Brian L. Milne, Energy Editor, Schneider Electric Wholesale gasoline costs were mostly lower at major metropolitan markets across the U.S. coming into December, slipping on building supply and weaker demand, with gasoline consumption failing to get a sizeable jump during the Thanksgiving holiday. Implied gasoline demand did reach weekly summer demand levels leading up [...]
Israel and Palestinians in the Gaza Strip may not be oil producers, but the conflict between the two groups has elevated the geopolitical risk premium for the oil-rich Middle East region over concerns of supply disruptions should hostilities spill out to other countries. Israel launched air strikes against Hamas targets in Gaza in mid-November following [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN In the aftermath of Hurricane Sandy, which was followed by a less destructive but still menacing nor’easter, the fuel distribution chain in the Northeast continues to experience disruptions. Phillips 66 estimates it would take another week or two before a resumption of normal operations would occur [...]
Integrated marketing supports nationwide launch of 2012 Hess Toy Truck, making the toy available nationwide this holiday season. Hess Corp.’s Hess Toy Truck, a holiday tradition for 48 years on the East Coast, will be available for purchase online this year for the first time. Details of the 2012 Hess Toy Truck will be announced [...]
As the official power supplier to Fenway Park, Gulf extends its service to residential and commercial customers across the Commonwealth. Gulf Oil’s Gulf Electricity services, which were first made available in Connecticut and Maine earlier this year, are now available to Massachusetts residential and commercial customers. The expansion of Gulf Electricity into Massachusetts is part [...]
As a holiday gift to customers, PumpPal members get a 10-cent club price discount. Parker’s has officially rolled back gas prices for PumpPal members by 10 cents at all 27 Parker’s locations in Georgia and South Carolina through the end of the year as a special thank you to customers. The 10-cent club price discount [...]
“With his expertise and leadership, we anticipate further technical advances that will continue to facilitate Additech’s consumer interface and experience at the pump,” says Additech CEO. Additech, a North American outsourced operator of at-the-pump additive and interactive merchandising systems, has appointed Richard Kemp to the position of chief technology officer. Kemp formerly held that role [...]
“Couponing at the pump, combined with targeted offers at checkout, has the ability to drive a significant increase in c-store sales,” says Robinson Oil president. Robinson Oil, following an initial PAYMEDIA pilot, is now implementing VeriFone Digital Network (VNET) at all of its 34 Rotten Robbie retail locations in Northern California. Couponing is the newest [...]
Net proceeds total $209.8 million before expenses. Susser Petroleum Partners LP has completed its initial public offering of 10,925,000 common units representing limited partner interests in Susser Petroleum Partners at $20.50 per common unit. The number of units issued at closing included 1,425,000 common units issued pursuant to full exercise of the underwriters’ option to [...]
Numerous class-action lawsuits have been filed across the U.S. in 26 states, the District of Columbia and Guam, alleging oil companies and fuel retailers improperly profited from the sale of hot fuel. In a victory for QuikTrip, 7-Eleven and Kum & Go—three c-store retailers in a “hot fuel” lawsuit—a federal jury in Kansas City, Kan. [...]
Station owners speak out against prices they say put them at a competitive disadvantage. More than 50 Lukoil gas stations in New Jersey and Pennsylvania doubled their gas prices on Wednesday, Sept. 12, to more than $8 a gallon. The one-day price hike was meant to capture attention as they protested what they called unfair [...]
Drivers will receive double “I Love Rewards” loyalty points at the new location. Love’s Travel Stops has opened a new travel stop in South Hill, Va., at Interstate 85, Exit 15. The store was built from the ground up to provide a new travel stop for professional drivers and motorists. The company invested approximately $7.5 [...]
Price is key factor for Millennials in selecting gasoline type. Leading gas station chains Phillips 66, 76 and Conoco have released the results of a nationwide survey that evaluated millennials’ gas purchasing habits and decisions. The survey was conducted by Kelton between July 19-25, 2012, among 1,018 American men and women age 21-30 who drive [...]
While merchandise sales are up, the tobacco category remains a challenge, says chief executive of Couche-Tard. Canadian convenience store operator Alimentation Couche-Tard Inc.’s adjusted quarterly profit is up, boosted in part by recent acquisitions, stronger merchandise sales and higher fuel margins, Reuters reported. Net earnings for the company fell, however, due to one-time costs associated [...]