Brian L. Milne, Energy Editor, Schneider Electric As February nears an end, retail gasoline prices are already at highs one would expect when the weather warms, not when some parts of the country are still digging out of snow drifts. A recent double-digit jump in the retail average reported by the Energy Information Administration means…
Could We Be Midway Through Gasoline’s Preseason Rally?
By: Brian L. Milne, Energy Editor, Schneider Electric. The Energy Information Administration’s (EIA) U.S. average price for all formulations of regular grade gasoline sold at retail outlets jumped another 7.3 cents through the week-ended Feb. 11, which was the eighth consecutive weekly increase in the national gasoline average. Since Dec. 17, when the U.S. average…
NACS Leadership Tackles Retail Challenges with Real Time Solutions
Customer engagement, the future of payment technologies, alternative fuels and the new legislative landscape highlight the 2013 Leadership Conference in Miami. By John Lofstock, Editor Convenience store retailers not in touch with the needs of their customers risk far more than losing repeat business and sales. They risk extinction as customers gravitate toward chains that…
Futures Surge Push up Wholesale Gasoline Costs
By Brian L. Milne, Energy Editor, Schneider Electric In futures trading, the nearest delivered New York Mercantile Exchange RBOB (reformulated blendstock for oxygenate blending) contract surged 17.82 cents or 6.2% from Jan. 25 to Feb. 1, with supplier postings at terminals serving major metropolitan markets up sharply, reflecting some of that increase from paper trading.…
Connecting with the Community
Chevron is gaining momentum through its corporate social responsibility initiatives and a growing loyalty program with Safeway. We increasingly hear that corporate social responsibility has become a business imperative. Not only do responsible and transparent approaches help build brand and reputation, they help strengthen the community and, therefore, the marketplace. A solid business plan, embedded…
Gasoline Prices Stirred Higher on Optimism
By Brian L. Milne, Energy Editor, Schneider Electric The American Petroleum Institute (API), the Washington, DC-based trade organization for the oil and gas industry, on Jan. 18 said at 8.7 million bpd U.S. gasoline deliveries in 2012 fell to their lowest level in 11 years, while down 0.4% compared with 2011. During 2012, gasoline demand…
Wholesale Gasoline Costs Mostly Decline
Brian L. Milne, Energy Editor, Schneider Electric Most major metropolitan markets in the U.S. experienced a decline in wholesale gasoline costs coming into the second full week of 2013, which should cap and upside push by retail gasoline prices that have edged higher since registering the low for 2012 in mid-December. Wholesale gasoline costs, the…
Lower Gasoline Prices Eyed for 2013
By Brian L. Milne, Energy Editor, Schneider Electric U.S. retail gasoline prices fell to an 11-month low in early December as building inventories and weak demand again pressured wholesale costs, with the Energy Information Administration’s (EIA) weekly retail average for regular grade gasoline down in eight of the last nine weeks to $3.349 gallon. View…
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.…
Wholesale Gasoline Costs Mostly Dip Coming into December
By Brian L. Milne, Energy Editor, Schneider Electric Wholesale gasoline costs were mostly lower at major metropolitan markets across the U.S. coming into December, slipping on building supply and weaker demand, with gasoline consumption failing to get a sizeable jump during the Thanksgiving holiday. Implied gasoline demand did reach weekly summer demand levels leading up…