Israel and Palestinians in the Gaza Strip may not be oil producers, but the conflict between the two groups has elevated the geopolitical risk premium for the oil-rich Middle East region over concerns of supply disruptions should hostilities spill out to other countries. Israel launched air strikes against Hamas targets in Gaza in mid-November following…
Family Express Connecting With The Community
Through its partnership with Purdue University, the Indiana chain is giving college football an opportunity to win free gas for a year. Valparaiso, Ind.-based Family Express earlier this year entered a multi-year sports marketing agreement with Purdue University Athletics and its multimedia rights holder, Purdue Sports Properties. As the college football season winds down,…
NYC follows N.J. Lead, Institutes Odd-Even Gas Rationing
By Brian L. Milne, Refined Fuels Editor, Telvent DTN In the aftermath of Hurricane Sandy, which was followed by a less destructive but still menacing nor’easter, the fuel distribution chain in the Northeast continues to experience disruptions. Phillips 66 estimates it would take another week or two before a resumption of normal operations would occur…
Gasoline Futures Tumbles on Demand Destruction
Brian L. Milne, Refined Fuels Editor, Telvent DTN A loss of gasoline demand in the heavily populated Northeast due to Hurricane Sandy pressed New York Mercantile Exchange RBOB futures to a 4-1/2 month low, with the contract, short for Reformulated Blendstock for Oxygenate Blending, used as a benchmark in setting spot gasoline prices. Although long…
Wholesale Gasoline Costs Slide as Supply Tightness Eases
Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were lower in most metropolitan markets across the U.S. coming into the final full week of October, pressured by rebuilding gasoline supply as refinery processing ramps up after a series of unexpected outages had propelled gasoline costs sharply higher. The total domestic gasoline inventory…
Wholesale Gasoline Costs on the Decline
Brian L. Milne, Refined Fuels Editor, Telvent DTN It’s mid-October and wholesale gasoline costs are on a downtrend, with the decline delayed based on gasoline’s seasonal tendency to begin moving lower after Labor Day as holiday travel cuts vehicle miles traveled. Gasoline prices are also coming down from lofty heights not usually experienced this time…
Retail Gasoline Prices to Again Advance
By Brian L. Milne, Refined Fuels Editor, Telvent DTN “Say it ain’t so Joe,” references a line in a movie from a young fan to “Shoeless” Joe Jackson on revelation eight members of the White Sox conspired to lose the 1919 World Series. Drivers in the U.S. might be singing a similar phrase about gasoline…
Reinventing the Neighborhood Market
Kyle’s Kwik Stop Corner Markets in east Texas is testing a new business model by emphasizing the local community. By Megan Wilkinson, Assistant Editor. On the outside, Kyle’s Kwik Stop’s latest store looks like a simple c-store. Yet, step inside the Longview, Texas unit and customers get a taste of the neighborhood from its breakfast…
Wholesale Gasoline Costs Mixed in Late September
Wholesale gasoline costs moved mixed in very choppy trading during the third week of September, with the benchmark futures contract slumping to a six-week low at one point before rebounding on renewed optimism for the global economy amid central bank stimulus measures. A huge build in crude stocks reported by the Energy Information Administration for…
Kansas Jury: Hot Fuel Not Deceptive
Numerous class-action lawsuits have been filed across the U.S. in 26 states, the District of Columbia and Guam, alleging oil companies and fuel retailers improperly profited from the sale of hot fuel. In a victory for QuikTrip, 7-Eleven and Kum & Go—three c-store retailers in a “hot fuel” lawsuit—a federal jury in Kansas City, Kan.…