Ricker’s Rewards card connects to customers’ checking accounts, so they can use the card like a debit card for discounts on in-store and gasoline purchases. Ricker Oil Co. is launching a rewards program this week to drive traffic and help customers battle escalating gas prices, the Indianapolis Star reported. The Ricker’s Rewards loyalty program offers…
Gasoline Prices Spike on Geopolitical Fears
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices surged in February, with the futures contract soaring to a high last seen on July 28, 2011, with gasoline demand during the summer months the highest. The gasoline futures contract, called RBOB (Reformulated Blendstock for Oxygenate Blending) and trades on the New York…
Wholesale Gasoline Costs Continue Upside Push
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in the U.S., which have already reached a nearly five-month high, are set to again increase as wholesale costs continue to climb on multiple factors from geopolitical risk to unexpected refinery outages. At $3.523 gallon as of Feb. 13, the Energy Information Administration’s…
Consumer Perceptions Vary About C-Store and Fuel Retailers
Customers guess retailers make 48 cents profit per gallon of fuel sold after expenses, when the reality is closer to 15 cents per gallon. While consumers intellectually understand that the corner store isn’t responsible for high prices at the pump, they still don’t like fuels retailers, according to findings released today from the new 2012…
Market Force & ConocoPhillips Receive Ventana Research Leadership Awards
Ventana Research Leadership Award comes on the heels of Forbes’ America’s Most Promising Companies recognition. Market Force, a worldwide leader in customer intelligence solutions, and its client ConocoPhillips have received the Ventana Research Leadership Award for Customer Excellence. The Ventana Research 2011 Leadership Awards recognizes innovative companies and their customers that have most effectively achieved…
Irving Oil Awards $60,000 to Six Community Organizations
Each organization earns up to $15,000 to support education, the environment, and local communities through Irving’s Community Fuel Grant Program. Irving Oil has just awarded $60,000 to support six local community organizations throughout Atlantic Canada and New England through its Community Fuel Grant Program. Each organization applied and requested for a grant worth up to…
Holiday Travel Bright Spot in Slowing Growth Outlook
Hovering at a 10-month low, the US retail gasoline price average provided by the Energy Information Administration should continue to leak lower for the balance of the year, benefiting travelers during the holiday travel season. This remains true despite the reality that pump prices are roughly 10% higher now than during the comparable year-ago period.…
Gasoline Costs Pointed Up on EU Action, Geopolitical Risk
For the week through Dec. 5 U.S. wholesale gasoline costs mostly increased, while activity in the European Union coupled with heightened rhetoric from Iran are seen pushing gasoline prices even higher. Additionally, Sunoco Inc. announced Dec. 1 that it was beginning to idle the main process units at it Marcus Hook refinery near Philadelphia, Pa.,…
Marathon Petroleum Reports Strong Q3 Profits
As Marathon Petroleum cuts costs, fuel prices continue to climb, resulting in high Q3 profits. Marathon Petroleum Corp., which split from Marathon Oil Corp. earlier this year, reported soaring third quarter profits this week, according to Bloomberg Businessweek. Earnings totaled $1.13 billion, or $3.16 per share, for the three months ended Sept. 30, more than…
Wild Price Swings in Wholesale Gasoline Market
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Day to day, markets of various stripes have seen wide price movements, reflecting not only uncertainty but fear. These broad swings are also true for gasoline, which has had several whipsaw sessions of its own with no sign of abate, while gasoline also reacts to broader…