Day One – Thursday, September 13, 2012
8:00 – 8:30 a.m.
Registration/Continental Breakfast
8:30 – 9:30 a.m.
Introduction/Market Overview
Before beginning our intensive work for the next two days, let's outline our key objectives, what we will learn, a summary of what is happening in the oil markets and how it affects your business.
9:30 – 10:30 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.
10:30 – 10:45 a.m.
Refreshment Break
10:45 – 11:45 a.m.
The NYMEX –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. – 12:30 p.m.
Spot Markets – What They Are, How They Move, and What They Mean to Your Business
Now that we understand the NYMEX it is time to explain how spot markets work and why they are so important to a fuel buyer. We'll explain in detail the intricacies of the seven major U.S. spot markets and who the big players are in each of those markets.
12:30 – 1:30 p.m.
Networking Luncheon
1:30 – 2:30 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.
2:30 – 3:15 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.
3:15 p.m.
Day One Review/Q & A
3:30 p.m.
Cocktails with Instructors