NACS releases results of its annual Retail Fuels Report. Price remains the dominant reason why consumers buy fuel at a particular location, according to the results from the new 2012 NACS Consumer Fuels Report. Nearly two-thirds of consumers (63%) rated price as the most important reason why they select a particular location for fueling, more…
Gasoline Prices Surge as N.J. Refineries Shut for Repairs
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices for the week-ended Jan. 30 were sharply higher in most major metropolitan markets across the U.S. , with those costs pushed up by a string of refinery closures due to economics and unscheduled repairs. On Friday (1/27), the New York Mercantile Exchange RBOB…
RFA Pushes Ethanol Agenda
Association urges end to oil industry tax breaks in letter to President Obama. American ethanol production is creating jobs, energizing rural economies, reducing oil imports, and helping all consumers save money at the pump emphasized the Renewable Fuels Association said in a letter to President Obama as he prepares for the State of Union address…
Another Refinery Shut Down Boosts Gasoline Prices
By Brian L. Milne, Refined Fuels Editor, Telvent DTN While mixed, wholesale gasoline prices mostly increased in major metropolitan markets across the U.S. during the third week in January, setting the stage for another increase in the U.S. retail average, which increased for the fifth consecutive week through Jan. 16. The Energy Information Administration (EIA)…
The Impact of Alternative Fuels
The political momentum to bring renewable energy products to the pumps is strong and growing. But with all the added costs to rebuild the nation’s petroleum infrastructure, is it worth it? By John Lofstock, Editor. Preparing for the future is a complex issue retailers should always be pondering. But in the fuel business this question…
Pace of Retail Prices Gains Should Slow But…
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration’s (EIA) U.S. retail regular grade gasoline average has now gained for four consecutive weeks through Jan. 9 to a $3.382 gallon two-month high, climbing 15.3 cents since Dec. 19. Of that total advance, 8.3cts of the gain took place during the week-ended…
Retail Gasoline Prices at Five-Week High
The U.S. retail price average for regular grade gasoline reported by the Energy Information Administration (EIA) reached a five-week high at $3.299 gallon in beginning 2012, and is set to notch its third straight weekly increase amid higher wholesale costs. Several factors continue to drive gasoline prices higher despite ongoing weak demand, with preliminary EIA…
Gasoline Futures’ Index Spikes in Opening 2012 Trade
Although wholesale gasoline costs were mixed during the final week of 2011, retail gasoline prices are poised to move higher in early January, with futures prices spiking to a nearly two-month high during the first trading day of 2012. Reformulated blendstock for oxygenate blending or RBOB futures trading on the New York Mercantile Exchange is…
Seibert’s Donates to BP’s ‘Fueling Communities’ Program
This past June, Seibert’s fueling stations was able to donate over $6,000 to the Richmond Mayor’s Youth Academy, giving the education and youth-based program more support for mentoring and training local children for post-secondary education or vocation. Now, with the support of BP’s “Fueling Communities” Program, the Richmond, Va.-based fuel wholesale, service station, towing and…
Holiday Travel Bright Spot in Slowing Growth Outlook
Hovering at a 10-month low, the US retail gasoline price average provided by the Energy Information Administration should continue to leak lower for the balance of the year, benefiting travelers during the holiday travel season. This remains true despite the reality that pump prices are roughly 10% higher now than during the comparable year-ago period.…