Recently, an industry article noted that the average price of unleaded fuel in 2020 was the lowest it’s been in the last four years. Sure, that’s a notable data point, but what’s driving it? Lower demand. Due to Covid-19, work from home and shop from home trends are here to stay. Together with increased fuel efficiency and the rise of alternative fuels, consumer demand for gasoline will continue to be under pressure. So, what does this mean for convenience retailers?
In this video, Gabe Ortega, fuel pricing practice leader at PDI, provides a few important steps retailers can take to shore up their bottom lines when demand is scarce.
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