Uber and GetUpside are teaming up to make GetUpside’s fuel and convenience store promotions available to drivers and delivery people on the Uber platform nationwide. The partnership began earlier this month with an exclusive GetUpside promotion for drivers on the Uber platform: an extra 35¢ per gallon cash back on the first two fill-ups for…
CITGO Emerges From Pandemic, Overcomes Other Hurdles
CITGO Petroleum Corp. reported its second quarter 2021 performance results, including net income of $3 million, earnings before interest, taxes, depreciation and amortization (EBITDA) of $214 million and adjusted EBITDA of $208 million, marking the company’s first profitable quarter since the third quarter of 2019. “Given the multiple challenges we have faced during 2020 and…
Gas Prices Stabilize as Supply and Demand Dip
The Energy Information Administration (EIA) produced new data that showed that gas demand and supply decreased. Moving from 9.78 million b/d to 9.43 million b/d last week, the latest demand measurement is 500,000 b/d lower than the rate at this time in 2019, according to AAA, signaling that summer gas demand is likely softening as…
CHS Global Grain & Processing Joins Growth Energy
Ethanol trade association Growth Energy announced the addition of its newest producer plant member, CHS Global Grain & Processing. The addition brings Growth Energy’s membership to a total of 91 producer plant members and 8.8 billion gallons represented out of the total U.S. annual ethanol production. CHS joined Growth Energy as an associate member in 2009. CHS is a…
Speedway Selling 166 Stations and Land Sites
Enon, Ohio-based convenience store chain Speedway, recently purchased by 7-Eleven, is selling off 166 former service station, retail development sites and undeveloped land sites in 22 states. The properties are being sold individually through a sealed bid auction through Chicago-based NRC Realty & Capital Advisors. Some of the properties have small buildings on them. Properties…
ARKO Reports Second Quarter Financials
ARKO Corp., owner of convenience store chain GPM Investments, announced financial results for the second quarter ended June 30, 2021. Come key highlights of ARKO’s second quarter: Operating income of $45.8 million for the quarter compared to $47.7 million in second quarter of 2020 Net income for the quarter of $25.6 million compared to $32.5…
Global Partners Buys 13 Mac’s Market Locations
Global Partners has purchased 13 Mac’s Market convenience retail stores and one commissioned agent site from Rutland, Vt.-based Sherman V. Alan Inc. The stores are located in Vermont, New Hampshire, New York and Massachusetts and sell Citgo branded fuels. Sherman V. Allen will continue to operate its Mac’s Market grocery stores throughout Vermont, which are…
National Gas Price Average Jumps to Highest This Year
Crude oil prices dropped below $70/liquid barrel (bbl) at the end of last week in reaction to concerns about the delta variant, growing COVID case numbers and the possibility of potential lockdowns, according to data released by AAA. While crude is a little cheaper, gas prices are still positioned to remain high in August. Today’s…
ACE Conference General Session Will Talk Low-Carbon’s Potential
The American Coalition for Ethanol (ACE) has been a leader in promoting the low carbon benefits of corn ethanol, including advocating for clean fuel policies or standards at the state and federal levels to increase ethanol demand. ACE is using its annual meeting this year in Minneapolis to showcase the organization’s, member’s and industry’s progression…
Retailers Must Fight Against UST Regulatory Headwinds
As I pen this column, the dog days of summer are beginning, and 2021 is already half over. Given these past six months, it seems safe to say that the early days of the Obama administration were a cakewalk versus the political headwinds our industry now faces. The latest challenge involves underground storage tanks (USTs)…