Collecting accurate business intelligence in any industry provides a decisive competitive advantage. This holds especially true for petroleum marketing. With insight from the NACS State of the Industry summit last April, the prospects for fuel marketers presented a mixed, though relatively optimistic, picture of the near future of the industry. Sales volumes should remain healthy (more than 97% of vehicles sold in 2015 still use liquid gasoline), but trends in technology (electric and hydrogen powered vehicles), now-widespread services (Uber, Lyft), and an increase in ride-share present some short-to-medium term challenges for fuel marketers. Developing fuel solutions to keep clients in the know with current and future trends, especially on a regional basis, remained one of Pinnacle’s primary goals- and does still as we move into 2017. Here is a look back at some of the major fuel trends and developments from Pinnacle this last year:
As 2016 draws to a close, we will take this month to review the many exciting opportunities and challenges Pinnacle responded to this year and what we have to look forward to in the coming year.
As the fuel market becomes increasingly competitive and volatile, businesses are looking for ways to expand their profits and streamline processes. This can mean moving beyond their initial arena of operations and into fields that bring their own logistical, managerial and administrative challenges and opportunities. This can be particularly true for upstream fuel businesses looking to move 'below the rack' downstream.