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Lundberg Letter Current Issues
May 10 2023
Oil Being Held in a $10 Bbl. Range
SPRING PUMP PRICE CLIMB HALTED
OPEC's surprise production cut on April 2 caused crude oil to increase $4.75 to $80.42 per barrel. But a lingering banking crisis and fears that global demand may get clobbered by a recession have battered prices back down, causing a Spring gasoline price reversal. A $70-$80 WTI price band has held since mid-November.
May 03 2023
Chip Card Readers More Prevalent
EXCLUSIVE STUDY: EMV AT THE PUMP
The much dreaded EMV compliance deadline hit April 17, 2021, and some 30% of the nation's gasoline retailers missed the deadline. From there, retailers continued to add chip readers to pumps but compliance growth has slowed lately for several reasons. In this exclusive study, Lundberg finds EMV compliance reached 78% in 2022.