By Brian L. Milne, Refined Fuels Editor, Telvent DTN Advancing wholesale gasoline costs midway through March were pared on the last day of winter, but consumers in most metropolitan regions across the U.S. will still see prices at the pump taking an escalator ride higher. The market is in the grips of a typical seasonal [...]
BP has outlined plans to further boost efficiency and reduce costs as it plans to improve its annual underlying pre-tax profitability by more than $3 billion over the next two to three years, the company announced in a press release. In addition, the company has extended its medium-term oil and gas production outlook, projecting that [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs ended February mixed, higher in the West Coast amid seasonal changes in fuel specifications, while other parts of the country mostly saw these costs decreasing. However, the trend moving forward points to climbing gasoline prices at the pump, while the wholesale market is [...]
Resilient, tough and tested. These are just a few of the words analysts and retailers alike used to describe the convenience store and petroleum industry over the past 12 months. With the economy suffering its most difficult period in some 80 years, convenience stores held up rather admirably considering how consumer confidence plunged and the [...]
This week, RaceTrac Petroleum Inc., is donating $102,939.88 to the American Red Cross in support of the Haitian Earthquake Relief effort, the Cedartown Standard reported. The more than $100,000 in funds was raised during last week’s Coffee for a Cause campaign, during which all proceeds from the sale of 16-, 20- and 24-ounce cups of [...]
The Kroger Co. and Shell have teamed up to launch a customer loyalty grocer rewards program in several U.S. cities. The rewards program provides shoppers the exclusive opportunity to earn savings on fuels when using their Kroger family of brands loyalty card at their local Kroger or Ralphs stores. Beginning on Feb. 15, Kroger and [...]
Ogden, Utah-based Flying J Inc., which filed for bankruptcy in December 2008, has filed a plan of reorganization through which it would repay all senior creditors by divesting most of its assets, including its travel center and trucking operations, Reuters reported. Flying J filed for bankruptcy due to a drop in oil prices and tighter [...]
Fuel supplier C.K. Smith and Co. Inc., which closed 23 Irving gas stations last month in Massachusetts and New Hampshire, said yesterday its decision was part of a strategy to exit the gasoline business, but will not affect its heating oil and propane services business in Central Massachusetts, the Worcester Telegram reported. “Today, C.K. [...]
Louisville, Ky.-based Thorntons Inc. has added E-85 fuel to its store at 2250 State Street in New Albany, Ind., Business First of Louisville. It is the ninth Thorntons store to carry the alcohol-based fuel, which is 85% ethanol and 15% petroleum. Thorntons has four stores in Illinois, two in Indiana, two in Kentucky and [...]
Professional comedian and motivator Don McMillan is scheduled to be the keynote speaker at NACStech, the premiere technology solutions event for the convenience and petroleum retailing industry, NACS reported. NACStech will take place May 5-7, 2010, in New Orleans. McMillan will combine his technical experience and humor during the event’s Opening General Session talk. At [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Better than a nickel decline in wholesale prices for metropolitan markets across the U.S. during the weekly period ended on Martin Luther King Jr. Day will arrest the rapid increase in retail gasoline prices seen since late 2009. The U.S. average retail price for regular grade [...]
Sunoco has awarded 5,000 gallons of gasoline to the winner of its 2009 Free Fuel 5000 promotion, Ronald Samuel. As the official fuel of NASCAR, Sunoco’s “Free Fuel 5000″ promotion offered millions of Sunoco customers a decal identical to the ones on every racecar in NASCAR’s three top series. By getting spotted with a decal [...]
The International Carwash Association (ICA), the world’s largest association for car wash professionals, has announced its 2010 Board of Directors and new Association President Jeff Gheysens, who is the owner of Sparkle Kleen Car Wash. The appointments went into effect on Jan. 1. The newly-elected board members represent both the operator and vendor community. “An ideal [...]
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 [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The average price for regular grade gasoline sold at retail outlets across the United States is poised to climb to a 15-month high early this week when government pricing data is released, with the Jan. 4 average reported at a $2.665 gallon two-month high. A 3-cent [...]