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The Real Power of Fuel Market Transparency

The Real Power of Fuel Market Transparency

By Brian McCusker, VP of NA Sales and Ed Seaford, VP of APAC Sales

Mobile apps for tracking area fuel prices have taken fuel market transparency to a level beyond just price listings on storefront signs. Now, consumers can search for the nearest, cheapest stations before ever getting in their car — and as with any market, the savvier the consumer, the more complex and dynamic the market becomes.

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How Do Automated Vehicles Impact Fuel Demand?

How Do Automated Vehicles Impact Fuel Demand?

By Conor Bowler, Head of Product-Pricing Division

Once a thing of science fiction, automated vehicles are now a reality — and very soon, they could be the norm. Automated vehicles, also referred to as autonomous or "driverless" cars, use sensors and GPS software to navigate the roadways without the need for human interference.

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I’ve Implemented a New Fuel Pricing Strategy — How Do I Know It’s Working?

I’ve Implemented a New Fuel Pricing Strategy — How Do I Know It’s Working?

By Scott Barrett, VP Global Client Services

Of all the elements that contribute to the success of a retail fuel network, pricing may be the most difficult to understand the impact — but with the right fuel pricing strategy and enough data to support that strategy, pricing managers can maintain a greater sense of control in their role and make decisions with a higher level of confidence. 

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The Importance of Human-Based Computation

The Importance of Human-Based Computation

By Anila Siraj, EVP of Research and Applied Data Sciences

We've talked at length about artificial intelligence (AI) in the fuel and convenience retail industry, and how incorporating AI into your fuel pricing strategy can boost efficiency, reduce risks and positively impact your bottom line. But notwithstanding the many benefits, AI shouldn't be the sole consideration when adjusting your pricing tactics and even more so, your pricing strategy. A balanced and effective strategy will also make room for the right balance of emotion and experience, the human side of the equation.

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How Can C-Store Retailers Adjust to the Rise of Mobile Payments?

How Can C-Store Retailers Adjust to the Rise of Mobile Payments?

By Mark Hawtin, Managing Director, Pricing

For many years, with the exception of attended service stations, people had no choice but to leave their cars and go into a kiosk or a store to pay for fuel — but when pay-at-the-pump came on the scene, the fuel and convenience retail industry was dramatically altered.

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Global Fuel Regulation Trends with Local Impact

Global Fuel Regulation Trends with Local Impact

By Conor Bowler, Head of Product-Pricing Division

The fuel markets of the world are trending toward increased regulation across the board, and it's critical for fuel retailers to be aware of the influence these regulations have, both globally and locally. Global financial and regulatory pressures create the perfect storm for increased volatility at the local level — and your micro-market could be next.

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4 Ways Gas Price Analysis Can Help Fuel Pricing Strategists Improve

4 Ways Gas Price Analysis Can Help Fuel Pricing Strategists Improve

By Scott Barrett, VP Global Client Services

Mastering the fuel pricing strategy is more than just optimizing your pricing process. A successful location often has several, more powerful volume magnets than price: brand, hours of operation, fresh food offerings, even which corner of the intersection a site is located on. Pricing, then, is merely sharpening the knife on a sites' performance. But pricing teams have multitudes of data at their disposal — how can pricing strategists better incorporate this data into their gas price analysis?

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A Closer Look At Electric Vehicle Penetration and Impact

A Closer Look At Electric Vehicle Penetration and Impact

By Mark Hawtin, Managing Director, Pricing

We've said it before and we'll say it again: Alternative fuels are shaking up the global fuel industry. In particular, the popularity of electric vehicles is growing exponentially, and it's not expected to slow any time soon. The latest Electric Vehicle Outlook Report predicts that sales of electric vehicles will shoot from a record 1.1 million worldwide in 2017, to a whopping 11 million in 2025, and then 30 million in 2030.

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The Power of Fuel Price Data: Handling

The Power of Fuel Price Data: Handling "Missingness"

By Anila Siraj, EVP of Research and Applied Data Sciences

We've said it time and time again, in order to thrive in today's competitive fuel retail market, you have to take a data-driven approach. If you're not using fuel price data to make decisions about your network, then you might as well be pushing buttons wearing a blindfold. By conducting a comprehensive competitive analysis, fuel retailers will understand:

  • Who their true competitors are
  • Key differentiators between their sites and their competitors' sites
  • The volume potential of each site
  • Daily, weekly and monthly demand cycles at each site
  • Market volatility
  • ... and more!

One of the most important drivers for sensitivity is relative price. It's true that actual price has some effect on sensitivity; when gas is cheaper, people will inevitably drive more. But at a micro-level, consumers are going to make decisions based on the relative prices of different sites. Data collection of competitor prices becomes critical in any competitive market where prices are rapidly changing and the relative position vis-a-vis your competitors is a strong driving force behind your share of demand.

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How to Tell If You're Contributing to Fuel Price Volatility

How to Tell If You're Contributing to Fuel Price Volatility

By Mark Hawtin, Managing Director, Pricing

If you're lucky, the gas prices in your market change only once or twice a week. In some markets, however, prices can change up to twelve times a day, presenting a major challenge to fuel retailers trying to navigate the market effectively. It's a fact of life that the volatility of fuel retail markets vary — and experience shows that markets evolve to become more volatile — but what triggers it? And how do you know if you're contributing to fuel price volatility in your market?

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