BP maintains second highest market share after Shell despite oil spill crisis.
Chevron used 2010 to restructure, exiting states on the edge of its marketing area, but it nonetheless exhibited more pricing power than any other brand, according to a just release OPIS report.
The OPIS Retail Year in Review & 2011 Profit Outlook found that among brands meeting a 0.5% market share threshold, Chevron achieved the largest premium at the pump. The average Chevron station, for example, sold unleaded regular gas 3.09cts gal above competitors. Shell took second place with an average differential of 2.46cts gal, followed by the 76 flag (1.39cts gal); Texaco (1.34cts gal) and Conoco (1.17cts gal).
The report concluded that Shell holds the largest market share, with an estimated 15.42% of nationwide gasoline volume, down a slight 0.04% from last year. Despite the 2010 oil spill crisis, BP managed to achieve the second highest share with 7.96%, down from the 2009 level of 8.24%. However, data gathered in the report did show that BP’s share fell in June at the peak of the BP Deepwater Horizon press coverage. Volumes recovered later in the year, but have yet to return to numbers seen before the event.
Mobil was rated highest for market efficiency, which calculates market share divided by outlet share. The Mobil score of 1.32 edged out other multinationals, but it is still well below top ratings of independent chains. Wawa, for example, had a market share of 1.46% with an outlet share of just 0.26%, so its efficiency rating was more than four times Mobil’s at 5.68. Sheetz, meanwhile, had the second best efficiency rating with a score of 4.24. Wawa priced its pumps an average of 3.33cts/gal under its competitors while Sheetz priced at 1.19cts/gal under its foes.
The complete 125 page report ranks more than 100 brands, and details the strongest and most challenging markets throughout the U.S. along with analysis of volatility, market swings, year-on-year changes, and other key elements.