The retail portion of the fuel chain is the most visible to the general public and likely the most complex to navigate.
Who Comes Up With Retail Gasoline Prices?
If you ask the average person who sets the price of gasoline at their local station, they might tell you that the station owner slaps the price tag on the pump – while shaking their head at how much their fuel bill eats into their monthly budget.
But that’s not really the case.
Buying fuel is confusing even for seasoned pros. We’re here to help.
The petroleum market features a slew of specialized fuel blends and no one-size-fits all requirement for what you can use — or where or when you can use it.
Whether you are new to the fuel industry or are already an expert, the words “spot,” “rack” and especially “basis” are terms that confuse even the most veteran buyer. There’s a good chance you or someone on your team may not be 100% sure what these words mean.