| Issue Date | Title | Subjects | CAPTION |
Nov 05 2024
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Shell Rationalizes Refining Business
NORCO IS LAST REMAINING U.S. PLANT
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Company Profile
Refining
Market Share
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Since 2000, Shell has sold or closed 10 refineries, leaving it with just one plant, Norco. It has dropped from the nation's top gasoline market share to fourth. Its loss of interest in U.S. refining coincides with a new zeal for gasoline retailing, and emissions reductions.
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Oct 23 2024
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Post-Auction Future Still Foggy
CITGO SOLD FOR A SONG
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Company Profile
Mergers/Acquisitions
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Citgo was auctioned off for $7.3-billion on September 27. However, creditors owed $21.3-billion by Venezuela's government have other ideas and are protesting the proposed sale along with the Venezuelan government itself. The company has been operating in limbo since 2019 when the U.S. government seized it from state-run Petroleos de Venezuela. Herein we examine Citgo's refining capacity, gasoline market share, and outlet count.
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Oct 17 2024
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A Dearth of Customers
ECONOMICS OF E-CAR CHARGING STATIONS
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Regulations
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Gasoline retailers are still being told by experts that they must install electric vehicle chargers to survive the "energy transition" and cash in on lucrative subsidies. Outlays for fast chargers run $50,000 to $100,000 each. This report finds that the numbers still don't add up, mainly due to a lack of e-car driving customers. Automakers are still losing billions on e-cars, and rapidly scaling back expansion plans.
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Sep 24 2024
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Refiner, Marketer, Retailer
MOTIVA SHARE DECLINING
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Market Share
Company Profile
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Motiva's U.S. gasoline market share has declined despite significant growth of its Shell branded network in some markets. The Saudi owned refiner-marketer added 17 units to its retail joint-venture last month, expanding its return to retail after an eleven-year absence.
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Sep 18 2024
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Weak Economy Taking Toll
GASOLINE DEMAND FALTERING
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Demand
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Gasoline demand has reversed to the downside so far in 2024 despite lower fuel prices. Headwinds include a sluggish jobs market and increasing vehicle efficiency. In August, the Bureau of Labor Statistics (BLS) said it will revise employment 818,000 jobs lower than had been reported during 12 months ending March 2024.
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Aug 29 2024
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Shift Toward Merchant Status
GROWTH VALERO STYLE
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Company Profile
Market Share
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Valero's U.S. gasoline market share is gaining despite hemorrhaging branded outlets. The nation's second largest refiner is building clout via unbranded gallonage and expanding refining capacity. Unfortunately, Valero is also under assault from California's attempt to control refining margins.
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Aug 21 2024
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Summer Seasonality Waning
GASOLINE DEMAND SEASONALITY 2023
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Demand
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Contrary to myth, the nation's driving season does not start during Memorial Day weekend. According to Lundberg data it instead runs from the start of May through August. May's demand is comparable to July's most years, a finding reported exclusively in the Letter back in 2018. Herein we update gasoline demand seasonality for recent years and find Summer's demand jump has softened.
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Jul 24 2024
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A New Direction
PHILLIPS 66 MARKETING MOVES
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Company Profile
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Phillips 66 says it plans to sell off $3-billion in non-core assets. This would be in addition to the two refineries it shut down in recent years. At the same time, the company continues to pursue its re-entry into retail gasoline marketing, with zeal. Herein we examine the nation's fourth largest refiner, Phillips 66.
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Jul 22 2024
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Store Sales Flourishing
C-STORE INDUSTRY METRICS 2023
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Station Population
NACS
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Convenience store sales, ex-fuel, rose to $327.6-billion last year according to The Association for Convenience and Fuel Retailing (NACS). In addition to this, the industry added more than 2,200 outlets despite significant headwinds including stiff interest rates, labor cost increases, and a reduction in food stamp spending.
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Jun 20 2024
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Jobber Supplied Open Dealers On Top
NATIONAL CLASS OF TRADE STUDY, 2023
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Station Population
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Contrary to popular myth, major branded outlets are not in decline nationally according to exclusive Lundberg field data. Jobber-supplied, major-branded, open dealers are still the most populous class of trade. Herein we examine the change in class of trade since 2018 and zero in on four markets.
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