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Lundberg Letter Current Issues    
Issue DateTitleSubjectsCAPTION
Jan 05 2015
2014 Marks Retail "Golden Age"
GASOLINE MARGIN SHATTERS RECORD
Retail Margins

Margin Revenue

Retail margin exploded 3.5? gal. higher in 2014 thanks to a stellar fourth quarter. This, combined with growing gasoline demand and a slight drop in card fees, allowed for the greatest year on record for the gasoline retailing industry. Margin revenue surpassed $25-billion. This report delves into the trends behind this bonanza, and examines possibilities for 2015.
Dec 18 2014
Unique Downstreamer
TESORO'S COUPS AND BIG BETS
Market Share

Refining

Tesoro continues to rescue major branded castoffs and now markets gasoline through six different brands. Last year, Tesoro achieved the top market share spot in California thanks to its purchase of BP's Carson refinery. After a string of victories, the company now faces arguably its toughest challenge yet -- California's "global warming" prevention law.

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