| Issue Date | Title | Subjects | CAPTION |
Aug 02 2021
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Obvious Optimism
MURPHY STILL ON A RETAILING TEAR
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Company Profile
Market Share
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Murphy is excitedly growing its station network by buying, building, and upgrading with this year's count again breaking its record high. This report examines the company's latest count, its fuel throughput, sales, margin, and market share. The Letter sees Murphy's share positioned to climb past 3% this year.
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Jul 16 2021
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Shell Down To One U.S. Refinery
MAJOR BRANDED NETWORKS VS. REFINING CAPACITY
|
Capacity
Station Population
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Not all major branded station retailers have the built-in security of supplier-owned refining capacity as a source for their needed gasoline volume. Shell is the most glaring example of late thanks to offloading several refineries. This study assesses U.S. refiners' gasoline production capacities to provide gasoline to their retail station networks, finding four of them in deficit.
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Jul 05 2021
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Gasoline Supply Flush and Demand Dim, But
2021 RETAIL PRICE PATH HEADS HIGHER
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Retail Prices
Demand
|
Retail gasoline price hikes total 97ยข gal. since late November, despite ample gasoline inventories and hobbled gasoline demand. During the week ending July 2, rack prices have leveled off but it may be too early to call this the end of the Summer rally. This report diagnoses the current elevated U.S. average $3.15 gal. and why it is on track to achieve its highest annual average since 2014.
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Jun 18 2021
|
Golden Again
U.S. REFINING MARGIN
|
Production/Supply/Demand
Margin
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Refining margin has reentered the golden zone in 2021, rising nearly $10 per barrel higher than 2020's average. This report demonstrates the start of a fine post-pandemic comeback and spotlights continued hardship refiners face as petroleum product demand recovery remains hobbled.
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Jun 03 2021
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Citgo Still in Limbo
UNDER NEW MANAGEMENT, SHARE STILL SHRINKING
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Company Profile
Market Share
|
Citgo Petroleum has been eligible for court seizure since 2018 due to nationalization and unpaid debts of Venezuela. In 2019 a new board of directors was installed with the blessings of the United States government. Since then, Citgo managed to increase its refining capacity. However, its gasoline market share and station count have continued their long downhill march as its status as a downstream arm of state-run Petroleos de Venezuela remains in limbo.
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May 13 2021
|
Dry Tanks, Wet Punditry
COLONIAL CLOSURE EMPTIES STATIONS, OPENS ISSUES
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Supply/Demand
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Almost instantly following Colonial Pipeline's closure, several thousand Southeast stations went dry thanks to paralyzed retailers unwilling to risk legal prosecution for hiking price enough to prevent a run on gasoline. Punditry is calling it "panic" buying, when it is in fact logical to top off one's tank in a supply emergency. This report gives the schematics of how and why stations run out of product when politicians do not allow market clearing prices.
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May 10 2021
|
Approaching Saturation
HYPERMARKETER GASOLINE MARKET SHARE 2020
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Market Share
Station Population
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Despite shrinking gasoline sales in 2020, hypermarketers saw their collective share of the U.S. gasoline market increase as traditional stations were harder hit. Hyper gasoline sales are now rebounding but longer term growth prospects are for diminishing increments as saturation points loom in many markets.
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Apr 22 2021
|
Trends Pre- and Post- Tumult
C-STORE PROSPECTS POST-2020 SHAKE-UP
|
Station Population
NACS
|
Following traumatic 2020 the convenience store count is down while the portion selling gasoline is up. Hardest hit were C-stores without fuel offerings. This report explores ongoing trends and reversals among consequences of terrible economic conditions last year which include favorable developments for the industry along with serious threats.
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Apr 16 2021
|
Profile of a Powerhouse Chain
QUIKTRIP: PRICING, SITE COUNTS, MARKET SHARE
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Company Profile
Market Share
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Successful, even feared, C-store gasoline retailer QuikTrip has an impressive 2.4% of the U.S. gasoline market, this report reveals. QuikTrip commands more than 20% market share in Phoenix. Its comparatively modest station count and diverse pump price positions within its 12-state territory are examined in this study.
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Mar 25 2021
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Hobbled Recovery Forming
GASOLINE DEMAND IMPEDIMENTS 2021
|
Demand
COVID-19
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After last year's extreme gasoline demand crash, this year could have returned to 2019's glory or even exceeded that all-time high. But recovery 2021 is being thwarted by policies and conditions from government and from rising gasoline prices. This report tracks recovery from last year's pits, fits and starts, and forecasts this year's gasoline demand due to factors identified herein.
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