The Renewable Fuel Standard (RFS) is changing fuel economics across the country. Combined with new regulatory requirements, enhanced fuel-efficient vehicles and alternative power sources are muddying gasoline’s future and threatening trips to the convenience store. Hear from a panel of fuel industry experts only at the 2017 NAG Conference in Nashville. But hurry, Early Bird registration expires August 18.
New technology is driving U.S. fuel sales. In some cases, however, technology is combining with other factors to slow fuel sales, including younger Americans’ propensity to drive less.
As a result, there are a number of trends to watch, according to The Fuels Institute, including:
* Overall, the country is producing vehicles with better gas mileage. And because Americans are driving less, less fuel is being sold at the pump.
* Tomorrow’s vehicles will offer even more technology, but add less to the actual driving experience.
However, there is some good news. While Alternative Fuel Vehicles (AFVs) are gaining interest with American consumers, but there’s a slow rate of adoption and AFVs are still expensive to produce.
In addition, ethanol fuels are gaining more traction as far as retail offerings—with E85 leading the way—but still are only offered in about 3,000 stations.
Register Now for the 2017 NAG Conference Sept. 10-13 in Nashville.
While alternative fuel technology may be becoming a larger part of the conversation, it’s one of the contributing factors to lower fuel sales in the U.S. Others contributors are the production of more fuel-efficient automobiles and a shift in driver demographics. This includes a significant segment of Millennials who are driving less based on changing cultural needs, as well as a growing demographic of cash-poor Americans.
Industry experts say that store operators want to see more demand for alternative fuels before taking an expensive leap in terms of investment. A tax credit expiring in 2019 that gives automakers incentive to produce the vehicles gives sellers a limited amount of time to build up consumer demand.
At this important National Advisory Group (NAG) session, retailers will learn what they can do to remain competitive in the fuel business. The session, titled “Competing On Fuel: Understanding Alternative Fuels, RIN’s and Declining Gallon Sales. The Renewable Fuel Standard (RFS) is changing fuel economics across the country and not necessarily for the better. Credits for renewable identification numbers (RINs) can be an obstacle for small chains who don’t fully understand them. Combined with new regulatory requirements, enhanced fuel-efficient vehicles and alternative power sources are muddying gasoline’s future and threatening trips to the convenience store. Learn what you can do to protect fuel sales to remain competitive in the gasoline business.”
The session will feature four fuel industry experts, including:
* Wendy Chronister, President & CEO, Chronister Oil Co.
* John Eichberger, Executive Director, The Fuels Institute
* Stanley Roberts, President & CEO, Capital Oil Inc.
The session will be moderated by Suzanne Murray, Partner, Haynes and Boone, Lead Counsel for the Small Retailers Coalition
To register for the conference or learn more about the NAG agenda, visit www.nagconvenience.com.