Who Should Attend

  • C-Store Owners
  • Petroleum Marketers
  • Refiners/Suppliers
  • Government Fuel Buyers
  • Jobbers
  • Ethanol Blenders
  • Fleet Managers
  • Procurement Specialists


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"This is a must attend course for those involved in fuel buying to improve your company’s bottom line."

- Tony Riney, Fuel Manager, Maxum Petroleum

Meet Your Instructors

 

Scott Berhang

Director of Education & Corporate Training,
Oil Price Information Service (OPIS)


A 23-time course instructor, Scott is an oil industry veteran with more than 30 years of experience covering spot markets, wholesale gasoline and diesel fuel markets, as well as industry news.

He developed the OPIS West Coast Spot market report, whose spot prices have been the industry benchmark for over 20 years. Scott also travels around the country teaching fuel buyers the latest strategies on how to purchase fuel at the spot and rack level.

 

Dolores Santos

Fuel Supply Expert,
Oil Price Information Service (OPIS)


A 16-time OPIS course instructor, Dolores Santos is one of the industry’s most respected executives, with 40 years of experience buying and selling fuel for some of the industry’s largest petroleum products companies, including Wickland Oil and New West Petroleum.

Before joining OPIS, Dolores was Director of Supply and Distribution for Flyers (Nella Oil Company), one of the largest and most prominent jobbers on the U.S. West Coast.


Why You Need to Attend

Buy Smarter
Learn how to shop your fuel purchases and leverage your volume with suppliers.
Negotiate Better
Get the tools to negotiate a great supply deal to accommodate today’s changing fuel slate and write a contract that works for your business.
Elevate Your Knowledge
Discover the pros and cons of using spot-based purchasing formulas versus more traditional benchmarks for truck-and-trailer purchases.
Control Costs
We’ll show you how to keep your suppliers in check by verifying the invoice price you pay is the correct price.
Increase Profits
Find out how to use price discovery tools to read the market and predict your next day’s wholesale costs.
Pick the Right Benchmark
Make sure you select the best fit for your business from the many options out there.
 

"Helped me see the big picture much better and connect the dots on the various components of the fuel chain. Thorough and comprehensive review of the intricacies and challenges of fuel procurement and purchasing."

- Spencer Brown, Director of Operational Excellence, Quarles

 
 

Agenda

 

8:30 – 9:00 a.m.

Registration/Continental Breakfast


9:00 – 9:45 a.m.

Introduction/Market Overview

Before beginning our intensive work during these two days, we'll outline our key objectives, what we will learn, a summary of what is happening in the oil markets and how it affects your business.


9:45 – 10:45 a.m.

The Fuel Chain – How Fuels Get From the Refinery to the Rack

The refining process is very complex and sophisticated – we’ll give you an easy-to-understand tutorial on how gasoline and diesel fuel are produced and how they get from the refinery to the rack and ultimately to the station or end-user tank.


10:45 – 11:00 a.m.

Refreshment Break


11:00 – 11:45 a.m.

NYMEX / Futures Markets – The Critical Things You Need to Know and Understand

Before you can learn to buy fuel smarter you must understand two key components of how racks are priced: the New York Mercantile Exchange (NYMEX) and U.S. spot markets. In this session, we’ll zero in on everything you need to know about the NYMEX.


11:45 a.m. – 1:00 p.m.

Networking Luncheon


1:00 – 1:45 p.m.

Spot Markets – What They Are, How They Move, and What They Mean to Your Business

Once you understand the NYMEX, we'll explain how spot markets work and why they are so important to a fuel buyer. We’ll detail the intricacies of the seven U.S. spot markets and who the big players are in each of those markets.


1:45 – 3:00 p.m.

Rack Price Discovery – Understanding the Basics of Racks

Rack price discovery began back in 1980, and although it has changed much in the intervening years, the bottom line is that nearly all wholesale gasoline and diesel fuel transactions are based on rack prices. We’ll define what rack means, who posts prices, branded vs. unbranded, spot replacement costs, how taxes work, and the impact of the changing fuel slate.


3:00 – 3:15 p.m.

Refreshment Break


3:15 – 4:00 p.m.

Retail Markets – Understanding the Complex Final Link in the Fuel Chain

Retail is perhaps the most complex link in the fuel chain. We’ll explain the five major classes of retail trade, how retail prices are determined and the huge challenge retailers face from hypermarketers.


4:00 – 5:30 p.m.

Cocktails with Instructors

7:30 – 8:00 a.m.

Continental Breakfast

Basic Buying Concepts Workshop: Creating and Implementing a Successful Fuel Buying Plan

For the next four sessions, we will conduct two case studies that focus intensely on creating a fuel buying plan for two very different fuel buyers – an end-user that buys about 20 million gallons annually, and a super jobber that purchases more than 300 million gallons per year.

Both companies face a multitude of challenges. For the end-user, the biggest challenge is to create a basic buying program that will keep trucks moving and not bust its fuel budget in this era of extreme volatility. For the jobber, the challenge is to leverage the large amounts of fuel that it purchases through various buying methods – branded, unbranded, spot, and some basic fuel hedging – in order to control its huge fuel costs.


8:00 – 9:00 a.m.

Part One: How to Choose or Change Your Fuel Supplier

Here we take step one – choosing a supplier.

You’ll learn:

  • How to choose which rack market(s) you need to designate for supply.
  • Alternate rack supply points and how to determine if they are available to you.
  • How to contact a supplier – where you get contact names and how you know that you’re talking to the right person.
  • If buying exclusively unbranded is the best decision.
  • How to take advantage of ‘arbs’ between the markets.
  • What your negotiating strengths and weaknesses are.


9:00 – 10:00 a.m.

Part Two: Understanding and Choosing a Rack Benchmark (Cost Basis)

A rack benchmark is a cost basis that every fuel buyer needs to have and understand. The choices of which benchmark to use are numerous, and a bad decision can have very serious ramifications for the company’s fuel budget. Here you’ll learn:

  • What benchmark options are available and if they apply to all fuels.
  • The major differences between morning vs. closing and daily vs. weekly benchmarks.
  • How floaters and data strips work.
  • Branded vs. unbranded benchmarks.
  • How to use historical data strips to compare benchmark options.
  • How to handle pricing disputes.

10:00 – 10:15 a.m.

Refreshment Break


10:15 – 11:00 a.m.

Part Three: How to Use Spot Benchmarks for Rack Purchases

More and more rack transactions are being done off a spot pipeline price. Understanding spot pricing is complicated, and we’ll break it all down for you. In this session you’ll learn:

  • What the advantages and pitfalls are of buying rack on a spot benchmark.
  • How to use historical strips to determine whether you should use a spot benchmark instead of a rack benchmark.
  • How to determine which spot market supplies your area and whether you should use alternate spot markets as a reference.
  • Brokers vs. traders – the major differences.
  • What you need to know about pipelines and storage to use spot benchmarks more effectively.
  • Date of lifting vs. three- and five-day ‘data strips’.


11:00 – 11:45 a.m.

Part Four: How Jobbers Buy Fuel and Operate Their Business

We’ll take an in-depth look at how super jobbers buy fuel, and the unique challenges and risks that affect the way they do business and how they price fuel to resellers. Plus, we’ll discuss what many in the market are curious about – how do I become a jobber?


11:45 a.m. – 12:00 p.m.

Box Lunch Pick Up


12:00 – 1:00 p.m.

Working Lunch/Rack Supply Contracts – What You Need to Know

One of the most critical parts of any fuel buying plan is having a contract that works for you and your supplier. There are many key things that you need to be aware of in negotiating a supply contract. You’ll learn the key do’s and don’ts involved in creating and executing supply contracts and what you need to know both as a buyer AND a seller/reseller.


1:00 p.m.

Conference Adjourns

"This training de-mystifies how fuel markets work, and why. It was valuable to see the industry through the eyes of supplier, jobber, and end user."

- Rob Collett, Procurement Manager, Midsouth Paving Inc/Oldcastle Materials

 

Exclusive Sponsorship Opportunity

Due to the exclusive nature of OPIS's Winning Fuel Buying Strategies event, OPIS is limiting the available sponsorships to one - A single sponsor whose brand and products/services will be the sole message that attendees are exposed to prior to, during and following the event.

This opportunity is offered on a first-come, first-served basis and will only be available to a single sponsor for maximum brand exposure. Once the Exclusive Sponsor is confirmed for this event, the opportunity will close and no further sponsorships will be sold.

Benefits of sponsoring include:

  • Logo placement prominently on the event website and at strategic positions throughout the venue.
  • 2 hours of brand exposure at the event’s Cocktail Reception including signage as attendees come through the door and logo placement at the bar, food stations and tables.
  • Tabletop display to distribute marketing materials directly to attendees.
  • Recognition of Exclusive Sponsorship on slide presentation in the session room during breaks and meals.
  • Full page, 4-color advertisement distributed with event materials that are provided to all attendees.
  • Complete attendee list 3 weeks prior to the event and 1 week after to be utilized by the Exclusive Sponsor exclusively for their follow up.
  • A 150-word company description on the Sponsorship tab on the event site with a link to your company website.
  • 2 complimentary passes to attend the event.

Who Should Sponsor?

  • Service and Equipment Suppliers
  • Engineering Firms
  • Consulting Firms
  • Software Providers
  • Risk Management Firms
  • Trade Associations

For complete details on this focused marketing opportunity and pricing, please contact David Coates, Director of Conferences at dcoates@opisnet.com or (713) 305-0116.

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"I would recommend this to people on all sides of the business, no matter how far invested or removed the individual may be from the actual buying of the fuel."

- Zhanna Godkin, Supply Analyst/Wholesale Fuel, Jacobus Energy Inc

venue

Renaissance Nashville Hotel 611 Commerce Street
Nashville, TN, 37203
Main Phone: 615-255-8400

OPIS

Oil Price Information Service (OPIS) believes there should be complete price transparency across the oil supply chain so that all stakeholders can buy and sell petroleum products confidently. We provide that transparency through educational courses, software tools, real-time news and pricing services, and market-specific benchmark pricing reports. Being a reliable information source with world-class customer service is important to us, as it helps fulfill our mission to enable customers to make smarter, more informed decisions. Navigating oil price volatility is tough – OPIS strives to make it a little easier. OPIS is an IHS Markit company. Learn more at www.opisnet.com