By Brian L. Milne, Refined Fuels Editor, Telvent DTN Bucking the seasonal trend, retail gasoline prices are moving higher in early October following sharp increases in wholesale costs in a host of major metropolitan markets around the United States. Retail gasoline prices have averaged higher nationally in October compared with September in only two of…
Flat Holiday Sales Ahead?
As U.S. consumer confidence cautiously edges upward, The Nielsen Co. predicts consumer holiday spending to closely reflect 2009 spending with flat dollar sales at approximately $89 billion, and flat to declining unit sales, down .15%. “As we approach the holiday season, consumer confidence is up slightly, but below pre-recession levels,” said James Russo, vice president,…
TD Economics: No Double-Dip Recession
The storm has ebbed, but the U.S. economic forecast remains overcast, according toTD Economics. “We don’t expect to see any miracles occurring over the next several months…but the evidence appears to be for the gradual unwind of imbalances and a continued slow pick-up in economic activity-and not another descent into recession,” wrote Deputy Chief Economist…
Nielsen Polls Customer Gas Buying Habits
As U.S. consumers prepare to hit the road for Labor Day weekend, The Nielsen Co. finds that nearly half (45%) of U.S. households are diligently seeking lower gas prices. The economy has consumers looking for cost savings across the board, even as they revert to some pre-recession habits. “Although gas prices are not as high…
Working Americans Report Economic Perceptions
Working Americans report having mixed feelings when it comes to job security, the economy and worker happiness. Short-term job security is improving, but at the same time, more workers fear losing their job some day in the future. More Americans think the economy is on the upswing. But this is still a minority opinion contrasted…
Gasoline Prices Trending Lower Amid Sliding Demand
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices were mostly lower in major metropolitan markets across the United States for the week-ended Aug. 23, auguring for another weekly decline in the national gasoline average. The Energy Information Administration last reported a 3.8 cents decline in the average price for all formulations of…
Retail Gasoline Prices to Slide from Three-Month High
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The U.S. average for all formulations of regular grade gasoline surged nearly a nickel to $2.783 gallon as of Aug. 9, according to the Energy Information Administration, the statistical arm of the Department of Energy. The price jump in retail was somewhat delayed from higher wholesale…
Rally in Wholesale Gasoline Prices Hits Wall
By Brian L. Milne, Refined Fuels Editor, Telvent DTN When gasoline prices at the pump spike, consumers should realize that theses daily and weekly changes are muted when considering the extraordinary volatility in the wholesale market. This risk is primarily borne by wholesalers and retailers that look to more gradually pass on these costs to…
Gasoline Prices Again Headed Higher
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale costs for gasoline are again moving higher across the country after a steep sell-off in late June into early July, with sharp gains realized during the first full week of July putting prices on either side of levels seen in late June. The increase in wholesale…
Flying J To Emerge From Bankruptcy
A U.S. Bankruptcy Court in Delaware has confirmed Flying J’s plan to reorganize and emerge from bankruptcy, repaying its creditors in cash plus interest, Truckinginfo.com reported. Flying J filed for Chapter 11 bankruptcy protection back in December 2008, and since that time has been working to restructure. It officially merged retail operations with Pilot Travel…