Without question, fuel is one of the most important elements in the operations of the freight industry. The ongoing price volatility and supply make for potentially treacherous waters when it comes to planning fuel costs. And, as the world moves into a post-pandemic mindset, there are questions about the direction of fuel price and supply that need to be answered. Join us as we delve into what is easily described as “The New Fundamentals of Fuel.”
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The last year was incredibly tumultuous for U.S. fuel prices. First the pandemic quashed demand, and then just as we began to emerge from the tumult, there were a slew of refinery problems affecting output and the short term closure of the Colonial Pipeline, which threw markets into even more chaos. As we head into the critical diesel fuel season, everyone is asking what can we expect from domestic supply, and price. To discuss this we are presenting Patrick DeHaan, Head of Petroleum Analysis for GasBuddy. Patrick has had a huge media presence talking to all the major networks about fuel pricing. We’ll get his opinion on what to look for in the near future.
While the U.S. trucking industry cares a great deal about U.S. fuel supply and price, we can’t ignore the international factors that drive our domestic fuel markets. To breakdown what the transportation industry needs to be watchful of in the coming months, we’ve engaged Stephen Jones, Global Fuel Analyst for internationally-recognized Argus Media. We’ll delve deep into Stephen’s knowledge to get a good understanding of the international “drivers” that will impact domestic fuel prices.
There is probably no single issue in today’s fuel markets that perplexes and challenges fuel buyers and sellers more than Carbon reduction initiatives – also known as LCFS (low carbon fuel standard). Not only does this affect refiners and fuel distributors, but it also has a big impact on the price at the rack, and at the retail level. Both rack and retail prices have a huge effect on carrier’s fuel prices. To break down and explain clearly how all these regulations work, we’ve brought on Megan Boutwell, COO of Stillwater Associates, one of the most respected experts in the field of LCFS and emissions reductions. Megan knows the huge impact of this, and has the ability to break it down and explain it clearly and simply.
Remote tank monitoring adoption is growing globally by 37% per year. And while the distributor has generally been the purchaser of the monitors for their own delivery efficiency, bulk fuel buyers now realize that monitoring their own inventory provides a host of benefits not realized otherwise. In this session, we will discuss the technology surrounding remote tank monitoring, and how it can help bulk fuel buyers: receive fewer deliveries with more gallons per delivery; maintain accurate inventories; manage delivery costs; ensure safety; centralize purchasing….and more! This is a do not miss for the fuel buyer who needs to eliminate hidden costs from delivery to consumption.
As fuel pricing mechanisms become more complicated, technology is playing a bigger than ever role of in helping to manage the traditional process of fuel buying. Now, technology for “Best Buy” systems and accounting management are becoming more and more widely used. But, there are key differences in what the technology can do. If you consume millions of gallons / year in fuel, and have a small group of people doing the buying, you cannot miss this session.
Fuel buyers tend to shut down, or blank out when the topic turns to “hedging” fuel costs. But, it’s really not that complicated. Elaine Levin, President of Powerhouse, has been in the futures markets for early thirty years, and has taught her own Fuel Hedging Class that has had more than two thousand attendees. When it comes to explaining plainly and simply why hedging for anyone who buys bulk fuel – especially carriers – is critical, it’s Elaine. We’ll get her to answer the basic questions, and also get her take on what is going to drive fuel prices in the next several months.
Renewable diesel is the hot new fuel among U.S. refiners. Powered by various government benefits and breaks, refiners are converting units to make the fuel that is a "drop-in" substitute for regular diesel. In this chat, noted refining expert John Auers will discuss the ins and outs of making and using this fuel.
Fuel – and its constantly gyrating price movements – is one of the three biggest costs for carriers, and it obviously also impacts what shippers pay. But, many buyers of fuel are completely unaware of what causes price fluctuations – for anyone that buys millions of gallons / year of fuel, that’s a detriment. Understanding seven basic rules of fuel buying can go a long way toward being able to become a smarter buyer of fuel, and add to bottom line profits. For the afternoon, your host will be Scott Berhang – a 40 year veteran of the fuel industry who put hundreds of fuel buyers through his fuel buying classes. Scott will teach attendee what he calls the “Five Rules of Fuel Buying.”