By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices continue to advance, with the Energy Information Administration’s (EIA) U.S. average for regular grade surging 7.2 cents to a $3.793 gallon nine-month high as of March 5, with further gains to again hike the average when next released. View Telvent DTN’s Weekly and…
BP Unveils New Customer Loyalty Technology
Oil company’s Pump Rewards platform allows customers to redeem cents-per-gallon rebates to save on gas purchases. BP Products North America Inc. announced today the launch of Pump Rewards, a new payment technology that lets loyal BP customers earn cents-per-gallon rebates and redeem them at BP gas stations to experience an instant rollback of gas prices.…
Parker’s Launches New Smartphone App
Customers offered special promotions, instant fuel pricing information using their iPhone, iPad, BlackBerry or Android platform. The Parker Cos., based in Savannah, Ga., has released a free app for iPhone, iPad, BlackBerry and Android users. The user-friendly app provides customers with a full-range of interactive services. This free mobile app offers a convenient Parker’s store…
Bullish Geopolitics Overpower Bearish Gasoline Demand
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration’s (EIA) U.S. average price for regular grade gasoline spiked to a $3.721 gallon 8-1/2 month high on Feb. 27, and is poised for a further advance despite mixed wholesale costs in early March. Retail prices have never been this high this early…
Ricker Oil Launches Rewards Program
Ricker’s Rewards card connects to customers’ checking accounts, so they can use the card like a debit card for discounts on in-store and gasoline purchases. Ricker Oil Co. is launching a rewards program this week to drive traffic and help customers battle escalating gas prices, the Indianapolis Star reported. The Ricker’s Rewards loyalty program offers…
Gasoline Prices Spike on Geopolitical Fears
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices surged in February, with the futures contract soaring to a high last seen on July 28, 2011, with gasoline demand during the summer months the highest. The gasoline futures contract, called RBOB (Reformulated Blendstock for Oxygenate Blending) and trades on the New York…
Wholesale Gasoline Costs Continue Upside Push
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in the U.S., which have already reached a nearly five-month high, are set to again increase as wholesale costs continue to climb on multiple factors from geopolitical risk to unexpected refinery outages. At $3.523 gallon as of Feb. 13, the Energy Information Administration’s…
EIA sees One-in-Four Chance for $4 Gallon U.S. Average in June
By Brian L. Milne, Refined Fuels Editor, Telvent DTN In its most recent Short-term Energy Outlook, the Energy Information Administration (EIA) pointed to a 25% probability based on activity in the financially traded gasoline market that its U.S. average price for regular grade gasoline would top $4 gallon in June. “Recent options and futures price…
Consumer Perceptions Vary About C-Store and Fuel Retailers
Customers guess retailers make 48 cents profit per gallon of fuel sold after expenses, when the reality is closer to 15 cents per gallon. While consumers intellectually understand that the corner store isn’t responsible for high prices at the pump, they still don’t like fuels retailers, according to findings released today from the new 2012…
Job Gains Boost Wholesale Gasoline Costs
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline values continue to find upside price support from refinery closures impacting the New York Harbor, with markets quickly popping higher on news of new unplanned downtime at other refineries even though there’s ample slack in the system while preliminary data from the Energy Information…