ALEXANDRIA, VA. – Fuel buying has become more sophisticated over the years and is not the same as it was just five years ago. Today’s combination of demand, supply, terminal operating status, rack price rules and more all add up to a complicated equation for fuel buying success.
For operators to beat their competition to the punch and make more money, they must use more than just one fuel buying technique. Otherwise, they risk falling behind. “You have to get educated and you have to think outside of the box,” said Cathy Duncan, vice president of sales, downstream oil and gas, at DTN and an upcoming speaker at NATSO Connect. “It is exposing and educating yourself to real options that you’ve got and be willing to change the balance of your portfolio and try different things.”
Darren Schulte, vice president of membership for NATSO, said operators have to stay current with today’s market trends. “Sometimes we get comfortable with what we’re doing and continue to do that, choosing the path of least resistance,” Schulte said. “But it is important to ask yourself if you’re buying fuel properly or if you’ve become too satisfied with the way you’re doing it.”
Consolidation within the truckstop and c-store industry is changing the dynamics within the fuel industry. “That makes it even more important to understand fuel buying changes. It is just about being smart,” Duncan said.
Duncan is just one of several industry experts who will share knowledge with truckstop and travel plaza operators during NATSO Connect, Feb. 10-13 in Nashville, Tennessee. Hundreds of innovative, senior-level truckstop operators and industry partners will come together to learn from industry experts, gain new insights and uncover best practices to convert ideas into action and re-invent how truckstops do business.
