By Brian L. Milne, Energy Editor, Schneider Electric Wholesale gasoline costs moved lower coming into the second week of December, reflecting sliding values in spot and futures trading that will also prompt another decline in retail prices, which the Energy Information Administration (EIA) last said averaged nationally at a $3.394 gallon five-month low. The U.S.…
Delek US Holdings Makes Records With Second Quarter Income Levels
Delek US Holdings manages to reduce its debt after reporting high income levels for its second quarter 2012. Delek US Holdings Inc., a diversified energy company with assets in the petroleum refining, marketing and retail industries, reported its second quarter results for 2012. For the three months ended June 30, Delek US recorded a net…
CITGO Improves Safety Rates In 2011
CITGO earns awards and recognition for its increased safety rates in 2011. CITGO Petroleum Corp. saw significant improvements in its refining safety performance in 2011 with both its total recordable incident rate (TRIR) and days away, restricted or transferred (DART) rate falling to about half of what they were the previous year. CITGO excelled in…
Hess Elects New Director To Its Board
A former U.S. senator joins the Hess board of directors team. Hess Corporation announced the election of former Sen. Sam Nunn to its board of directors. Nunn served as Georgia’s senator for 24 years (1972 to 1996), and was a chairman of the Senate Armed Services Committee, the Permanent Subcommittee on Investigations and served on…
Retail Gasoline Prices Reverse Higher after Three-month Slide
Brian L. Milne Refined Fuels Editor, Telvent DTN After 13 consecutive weeks moving lower, retail gasoline prices snapped the decline, gaining during the first full week of July. Moreover, retail gasoline prices are in position to again increase, while the July 2nd six-month low in the Energy Information Administration’s (EIA) U.S. average might hold for…
Gasoline’s Retail Price Slide Could Stall On Shut-ins, Policy
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The U.S. fell for the 13th consecutive week through July 2 and, at $3.356 gallon, are at a six-month low. So, just as one of the busiest travel periods in the US was underway during the July 4th holiday, retail gasoline prices were averaging at their…
KickBack Points Program Launches Mobile App
The KickBack Points Program, an industry leading loyalty program, has announced the launch of a new mobile application for use on iPhones and iPads. The app allows consumers to enroll their KickBack card, check their KickBack Points balance or locate participating KickBack Points Program retailers. “We are committed to remaining the industry leader for loyalty…
Sunoco Acquired By Energy Transfer Partners
As part of the acquisition agreement, ETP is to own Sunoco’s branded retail business, which includes approximately 4,900 retail locations in the U.S. Energy Transfer Partners L.P. (ETP) has acquired Sunoco Inc. The two companies today announced that they have entered into a definitive merger agreement whereby ETP will acquire Sunoco in a unit and…
Senator Seeks To Expedite Keystone XL Pipeline
The proposed pipeline could bring up to four million barrels of Canadian crude oil per day by 2020. Senator John Hoeven (R-ND) has introduced legislation, which would expedite the construction of the Keystone XL pipeline by granting Congress the authority to move the project forward without the President’s consent. Citing Congress’s authority enumerated in the…
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…