DEVELOPING A FINANCIAL BATTLE PLAN IN UNCERTAIN TIMES

In recent weeks, fuel dealers had been lamenting the impact on earnings from an unusually placid winter stretch, with hopes buoyed in some respect by very favorable commodity prices. But seemingly overnight, the COVID-19 scourge which was critically impacting other parts of the world suddenly became very real. Now a pandemic, the virus impact has…

Increasing residential demand – can it be?

As uncertainty surrounding the myriad of potential impacts as the result of COVID-19 keeps growing, politicians, regulators, medical professionals, clerical leaders, and economists face the ever-daunting task of answering some of the unanswerable questions: How many will be infected? Can we truly segment those who are at greater risk? Will the expected mortality rate fall?…

Budgeting Best Practices for Fuel Dealers

Have you ever gotten in your car and decided to just drive to a destination without a plan on how to get there? What streets would you take? Would you need to stop for gas? Would you need your GPS? These are just a few of the many items that you would need to consider…

3 Steps to Prepare Your Data to Make Your Company More Money

It doesn’t matter what industry your business is in; your customer data holds the keys to unlocking powerful information. It is the direct guide to your customers and your operation. This is especially true in the fuel industry. Most of the time you find yourself guessing about what you think your customers need or what…

MID-SEASON COURSE CORRECTION: TOOLS TO GET YOUR COMPANY BACK ON TRACK

There are two areas of your business that will determine your success or failure for the remainder of this season: Financials and Operations. Your financials act as the “symptoms,” giving you the first signs that something is wrong. Once you can determine where the problem may be, you can review your operations to help guide…

An Introduction To Weather Hedging: What It Is And How It Works

As you all know, weather can dictate how profitable your company will be during the season. Some of you may already be familiar with weather hedging programs and may even have implemented them into your company’s strategy. While we still see many companies with misconceptions about weather hedging, the main source of this misunderstanding stems…

Common Misconceptions About Weather Hedging

Weather hedging may seem unnecessary – until it isn’t. One month you have record low temperatures followed by another month with record high temperatures. The point is, weather is too unpredictable and can negatively affect the success of your company.  While we may not be able to predict the weather, there are certainly ways to…

Financial Checklist: Questions to ask when preparing price programs

Written by: Jeffrey Simpson, Angus Finance  |  As seen in Fuel Oil News   Hedging & Pricing Program Considerations If you plan to offer pre-buy, fixed price or capped price programs this year, have you reviewed the number of gallons and customers participating in each last year? What new variables could affect the level of participation…

Why you need electronic tank monitors and extreme cold weather

Written by guest blogger, Gary Sippin, VP of Sippin Energy Products and existing GREMLIN® user Many energy marketers have experienced an alarming number of run outs, many that came unexpectedly, and not necessarily because they were behind on deliveries. Many marketers simply scratched their heads and chalked it up to some unknown degree-day forecasting anomaly.…