fuelpumpWEB

Gasoline Prices Pressured by Weak Demand

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

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 resized

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

HESS1

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

fuelpump

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

fuelpump

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

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

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

gasnozzle

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

Fuel

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

gasnozzle

California Low Carbon Standards Unconstitutional

Court rules that standard excessively restricts interstate commerce. Judge Lawrence J. O’Neill of the U.S. District Court for the Eastern District of California has issued a temporary injunction blocking the California low carbon fuels standard. This is welcome news to the California Independent Oil Marketers Association (CIOMA) who have described the standard as unjustifiable, costly

sunoco-friendlys

Sunoco Reports Q2 Results

“Sunoco Logistics Partners L.P. had its best quarter ever and our logistics segment contributed $54 million to Sunoco’s earnings. Likewise, our retail segment also contributed strong earnings that approached a record for second quarter results,” says CEO. Sunoco Inc. has released its second quarter 2011 financial results, reporting a net loss attributable to Sunoco shareholders

HESS

Hess Donates $1 Million To Aid Flood Relief

After flooding devastates parts of North Dakota, Hess provides funds to key organizations responsible for aiding and rebuilding the impacted areas. Hess Corp. has donated $1 million to North Dakota flood relief efforts. “We are deeply concerned about the people who are suffering from the devastation caused by the floods that have occurred in North

fuelpumpingLARGE

Worries Over Economy Pressuring Oil Prices

Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs are again moving lower, pressured in early June by worry over economic growth highlighted by an increase in the U.S. unemployment rate in May. Poor results in manufacturing and housing detailed in recent data releases have also piled onto the heightening concern over the

fuel pump

Fuel Prices Spur Uptick In Consumer Complaints

As gas prices increase, customers are paying more attention to the price at the pump and are quick to report concerns, the National Conference on Weights and Measures reports. As fuel prices rise, so do the number of consumer complaints at the gas pump, according to a recent survey of state weights and measures, where

fuelnozzle

Gas Prices Soar Almost 34 Cents In 13 Days

California, which has the highest gas prices in the nation, has reached $3.89 for a gallon of gas. Gas prices continue to climb upward, spurred higher due to the turmoil in Libya, with crude oil prices moving above $106 per barrel in overnight trading, marking a two-and-a-half year high. The national average price for a

SUNOCO

Sunoco Completes Toledo Refinery Sale

Sunoco’s existing retail marketing and logistics operations in Ohio and neighboring states are not impacted by the sale. Sunoco Inc. has completed the previously announced sale of its refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Co. LLC for approximately $400 million (consisting of $200 million in

Wholesale Gasoline Costs Surge on Fed’s Quantitative Easing

Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were pumped higher by a sharp advance in New York Mercantile Exchange oil futures during the first week of November, with crude values spiking to a better than two-year high after the Federal Reserve announced a monetary policy aimed at spurring economic growth. NYMEX

Wholesale Gasoline Costs Tumble with Pipeline Restart

By Brian L. Milne, Refined Fuels Editor, Telvent DTN A relatively quick return, just over a week, in pipeline deliveries on Energy Partners, L.P.’s Lakehead system after it was shut on Sept. 9 due to a leak pressured wholesale gasoline costs through today, especially in the Midwest. Enbridge was forced to shut a key pipeline

United Refining Reduces Crude Processing

United Refining Co. has temporarily reduced its Warren, Pa., crude processing until a crude line operated by Enbridge’s Lakehead System in Kalamazoo, Mich., can be repaired. On July 26, a leak was detected in the Line 6B pipeline on Enbridge’s Lakehead System in Michigan and was subsequently shut down. In response to the partial reduction

Chevron Cited After Spill

Utah regulators have cited Chevron Corp. for a pipeline leak that sent 33, 000 gallons of crude oil into Salt Lake City’s Red Butte Creek last month, the Associated Press reported. Much of the oil collected in a pond at the city’s Liberty Park and, according to regulators, oil traveled downstream into the Jordan River.

Crude Oil Stays Steady

Crude oil prices remained steady above $76 per barrel on the New York Mercantile Exchange on Friday, June 25, according to United Press International. July delivery crude oil prices added 27 cents to $76.78 per barrel, while heating oil prices for July delivery added 0.0076 cents to $2.0648 per gallon. Reformulated gasoline blendstock prices added

Gasoline Prices Slipping into Memorial Day

By Brian L. Milne, Refined Fuels Editor, Telvent DTN Gasoline futures known as RBOB (Reformulated Blendstock for Oxygenated Blending) that trade on the New York Mercantile Exchange tumbled 35cts or 14 percent from a 19-month high reached on May 3 to May 17, capping the uptick in retail prices ahead of the unofficial kickoff to

BP Releases Video of Spill

BP increased the estimated cost of its Gulf of Mexico oil spill to $450 million Thursday, after it released a video showing oil and gas pouring from its well a mile beneath the ocean’s surface, MarketWatch reported. BP released the video to the public late Wednesday, more than three weeks after the Deepwater Horizon drilling

BP Releases Video of Spill

BP increased the estimated cost of its Gulf of Mexico oil spill to $450 million Thursday, after it released a video showing oil and gas pouring from its well a mile beneath the ocean’s surface, MarketWatch reported. BP released the video to the public late Wednesday, more than three weeks after the Deepwater Horizon drilling

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