| Issue Date | Title | Subjects | CAPTION |
Oct 28 2025
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Production Plateau Forming
CRUDE OIL PRICE INCENTIVE FADING
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Production/Supply/Demand
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Since 2014 the U.S. has reigned as the world's biggest crude oil producer. Robust production has led to reduced crude oil and gasoline prices in 2025. However, with sub-$60 crude oil, U.S. production is set to plateau in 2026.
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Oct 16 2025
|
Another Record Year
COUCHE-TARD MARKETING METRICS
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Company Profile
Margins
Station Population
|
Despite a failed acquisition attempt of 7-Eleven owner Seven & i Holdings, Circle K owner Couche-Tard still enjoyed a record setting fiscal 2025. The company's near perfect timing on acquisitions has paid off bigtime in this new higher fuel margin era. Couche-Tard achieved 40.49ยข fuel margin on average in 2025.
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Sep 18 2025
|
Sparkling Spin-Off
MURPHY USA FUEL METRICS
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Company Profile
|
Murphy USA continues to aggressively pursue gasoline market share in its 27-state territory, and according to Lundberg data, will increase its share in 2025. At the same time it continues to enjoy a much higher gasoline margin than it had been accustomed to prior to 2020. Herein we report on Murphy USA fuel metrics.
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Sep 10 2025
|
Brand Price Postures
SAN FRANCISCO DTW METRICS
|
Market Profile
|
Wholesale gasoline competition remains fierce in San Francisco as several brands jockey for price positioning, including 76 brand undercutting Arco. Bay Area competition may take on a new personality next year when it loses yet another vital gasoline supplier, the Benicia refinery.
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Aug 07 2025
|
Another Down Year
2025 GASOLINE DEMAND METRICS
|
Demand
Retail Prices
|
Pump prices are down and the driving population is up. But instead of growing, gasoline demand so far this year is faltering. This report shows why we are forecasting full year 2025 demand to sink by 0.7%.
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Aug 01 2025
|
Energy Transition U-Turn
U.S. VEHICLE FLEET TRENDS, 2025
|
Fleet
Demand
|
Last year EPA projected electric vehicle sales would account for half of all vehicle sales by 2032. This ridiculous projection was partly based on stringent fuel efficiency regulations which have recently been rolled back. Lavish EV subsidies are being eliminated and the coerced/rushed transition is being reversed. Herein we report on vehicle fleet sales and efficiency trends.
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Jul 24 2025
|
Brand Price Postures
SEATTLE DTW METRICS
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Wholesale Prices
Market Profile
|
Scrutiny and monitoring of reliable Dealer Tankwagon prices to discover brand positions is a must in markets where mere racks may not reflect competitive reality. Seattle, where BP is what makes Arco pricing tick, is a dramatic case in point.
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Jul 17 2025
|
Shortage or Surplus?
REFINERS' BRANDED SUPPLY 2025
|
Refining
|
Shell's one remaining U.S. refinery produces enough gasoline to cover just 20% of its branded gallonage sales. The rest is sourced from competitor refiners. ExxonMobil has grown its refining capacity while its branded station network declined, freeing up more barrels for unbranded sales. Herein we examine branded supply liability of nine refiners.
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Jun 17 2025
|
Midwest Marvel
CASEY'S RECORD SETTING YEAR
|
Company Profile
Market Share
|
Back in 2010, Couche-Tard tried to purchase Casey's for what amounted to $1.3-million per store. The offer was successfully rebuffed. Fifteen years later Casey's is much larger and its average store value has soared to over $7-million by our calculations. In its latest fiscal year ending April 30, Casey's added a record number of units and achieved record fuel volume of 3.2-billion gallons. The Iowa-based retailer plans more network growth this year.
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Jun 12 2025
|
Brand Price Postures
LAS VEGAS DTW METRICS
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Wholesale Prices
Market Profile
|
Among markets dominated by Dealer Tankwagon channel of wholesale gasoline trade, Las Vegas features three stalwart brands: Chevron, Shell, and Arco. The Letter exclusively finds that in 2025, Chevron is pricing above Shell.
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