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 [...]
“We’re responding to repeated requests from area residents who have been asking us to open a Parker’s in Rincon,” says Parker’s CEO. Parker’s Convenience Stores recently announced plans to build a new state-of-the-art convenience store in Rincon, Ga. The newest Parker’s, located at the site of the former Springfield Ford dealership on Hwy. 21, will [...]
Customers to be rewarded for their loyalty. BP Products North America Inc. is committed to finding new ways to build loyalty amongst consumers. First it launched the new BP Visa with Pump Rewards, and now the company is taking Pump Rewards technology to a whole new level by launching several pilot programs this fall in [...]
Innovative program to fund classroom projects, adds seven communities to the 2012 program. Chevron U.S.A. Inc. has announced the expansion of its Fuel Your School program to nine communities this fall from two communities in 2011. Fuel Your School will provide useful funding for eligible classroom projects developed by public school teachers and posted to [...]
“I am looking forward to increasing our participation in the fuel and lubricant distribution industry serving commercial and industrial customers,” says Pilot CEO. Pilot Flying J closed its acquisition of a controlling interest in Maxum Petroleum for cash, and its contribution of Western Petroleum LLC into Maxum. Maxum will continue to operate as an independent [...]
Registration open for charities, local heroes to win CITGO gift cards. Fueling more than one-million miles of good by assisting more than 200 charities, CITGO Petroleum Corp. is once again launching its Fueling Good program. Now in its fourth year, the Fueling Good program continues to recognize and reward local heroes making a difference in [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Bucking the seasonal trend, the U.S. average for regular grade gasoline sold at retail outlets across the country will continue higher after the Labor Day holiday, increasing despite the end of the summer driving season when demand typically declines after peaking during the summer months. There [...]
Sealed-bid process starts Wednesday, Aug. 15 and ends Oct. 18. Convenience store giant 7-Eleven is renovating a former Wilson Farms store on Denison Parkway in Corning, N.Y., scheduled for completion this fall, and preparing to divest 30 more, The Leader Online reported. 7-Eleven bought Buffalo, N.Y.-based Wilson Farm’s 188-store New York network last year from [...]
Vendgogh’s vending system allows customers to purchase cold drinks at the pump. The Pantry Inc. is working with Vendgogh, LLC to pilot beverage vending at fuel islands in several Kangaroo Express stores in Raleigh, N.C. and Durham, N.C. “This is another option we are testing to serve our on-the-go guests,” said John Fisher, senior vice [...]
South Dakota legislation continues to review rules on allowing the sale of 85-octane gasoline in the western half of the state. The proposed rule allowing the sale of 85-octane gasoline in western South Dakota is still in discussion as of Tuesday when a state legislative committee could not gain enough votes to approve or block [...]