Exxon Mobil Corp. pledged $1 million at the Clinton Global Initiative (CGI) to invest in the expansion of high impact, sustainable technologies that advance women economically in the developing world. The program is expected to directly benefit more than 13,500 people, with indirect benefits reaching more than 475,000 people in the next two years. The…
Sunoco Shifts Focus To C-Stores
Lynn Elsenhans, Sunoco’s CEO, told analysts she hopes to expand the company’s profitable retail business by ramping up its convenience-store offerings, Philadelphia Inquirer reported. “An area of opportunity for us to unlock even more value out of our real estate is by changing our mind-set from a fuels retailer that also sells some convenience items,…
Gasoline Pushes Higher
By Brian L. Milne, Refined Fuels Editor, Telvent DTN After inching off a one-month low last week to $272.2 gallon, the U.S. retail gasoline average is poised to post its second straight weekly increase, following wholesale costs higher. The US price benchmark for gasoline, the Reformulated Blendstock for Oxygenate Blending futures contract that trades on…
Pilot Flying J Gets Down To Business
Just two days after Pilot won Federal Trade Commission approval to acquire rival Flying Jay on Wednesday, the company, now called Pilot Flying J, isn’t wasting anytime getting busy with acquisitions, divestments and restaurant plans. As of today, Pilot Flying J-an entity of more than 550 interstate travel centers and travel plazas in 43 states…
Retail Fuel Prices Edge Lower in Early June
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The U.S. average price for regular grade gasoline sold at retail outlets dropped nearly 18 cents or 6% from a May 10 multi-month high at $2.905 a gallon to $2.728 gallon on Memorial Day, a time when retail prices have typically surged. The decline is less…
Lucky Deuces Selects FuelQuest
Lucky Deuces Casino and Truck Stop has signed a five year contract with FuelQuest Inc., a software services company for the global downstream energy industry. FuelQuest Fuel Center, FuelQuest’s outsourced fuel management service, will source, monitor, replenish, and reconcile retail motor fuel for Lucky Deuces’ growing establishment in Duson, La. Lucky Deuces’ goal is to…
Gulf Oil Grows in Virginia
Gulf Oil has announced its continued growth in Virginia by signing a branded distributor partnership with Anderson Oil Company. Anderson Oil will begin work immediately, rebranding more than two dozen motor fuel outlets in the Greater Fredericksburg and Richmond areas from Chevron, Texaco and Pure to the new Gulf “Sunrise” image. This is the first…
Retail Gasoline Prices Slip to Lows Last Seen in Early March
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices slid to a two-and-a-half month low ahead of the Memorial Day holiday, which has been dubbed the unofficial kickoff to the summer driving season due to the increase in holiday travel. Pre-holiday estimates projected a nearly 6% increase in highway travel during the…
Folk Oil Fights Hunger
Folk Oil’s PS Food Marts chain went to bat for hunger in Michigan and Ohio and raised more than $50,000 for local charities in just two short weeks. From March 15-31 PS Food Mart employees at the chain’s 29 stores encouraged customers and vendors to purchase paper hearts as part of its “Fight Hunger. Give…
Gasoline Continue Slide into Memorial Day
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices continue tumbling, down nearly 50 cents from the start of May after another week of double-digit declines across most metropolitan markets nationwide through May 24. The drop in wholesale values is gradually filtering through to retail outlets, offering a savings for holiday travelers…