Fuel retailers seek strategies for alternative fuels pricing: survey

Fuel retailers said in a survey that they would be interested in having a better “strategic perspective” when it comes to alternative fuels pricing adding separately that they would rather rely on a third party for software, Kalibrate said in a statement on January 20.

The survey, which obtained information from 8,000 sites selling a combined 10 billion gallons annually, pointed that on the side of retailers “there is a growing interest in being able to create strategies for pricing alternative fuels”.

“With macro forces and consumer awareness increasing the viability of alternative fuels, retailers are looking for strategic perspective and solutions to better price alternative energy,” Kalibrate said in a statement.

The study also reveals a continued preference for third party fuels pricing software compared with in-house systems, with 62% of respondents relying on a third-party provider, Kalibrate said.

“While retail fuel pricing is a critical component for ensuring profitability, more and more companies are realizing that it is only one of seven elements that can ensure volumes are maintained and profits increased; it’s what we call the Seven Elements for Fuel Retail Success (price, location, market, merchandising, facility, operations and brand),” said Bob Stein, president and chief executive officer of Kalibrate.

Kalibrate is headquartered in Manchester, United Kingdom and Florham Park, New Jersey. The company has a center of excellence in Tulsa, Oklahoma and Melbourne, Australia and sales operations around the world.

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