To understand how fuels are priced, it is critical to understand the “Influence Chain” – how NYMEX futures prices affect “spot” market prices, and in turn how those affect wholesale costs at the rack. In this information-packed session, Scott Berhang with OPIS will explain clearly and simply how you can gather information everyday to help you predict the price you will pay the next time you purchase fuel. You’ll also learn how to use this information to adjust your buying trends, and to negotiate better and more profitable deals with your fuel suppliers!  Attendees will receive a glossary of fuel buying terms to help you better understand complicated industry terminology.

What You Will Learn

• The meaning of “Basis” and how your local conditions can put you at a vast advantage or disadvantage to other retailers
• The importance of benchmarking and how different reporting services calculate fuel value
• The key elements of an iron-clad fuel supply contract
• How to time your purchases to take the best advantage of futures markets moves