Phillips 66’s three step process to growing retail fuel profits using EdgePetrol!

Phillips 66 Limited, 11 stations

Phillips 66 Limited, 11 stations
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The Challenge

EdgePetrol has been working closely with Phillips 66 Limited in the UK for over three years. Owners of Jet brand, they have a network of over 300 dealer and company-owned sites.

Prior to using EdgePetrol for their company-owned estate of 11 stations, pricing at Phillips 66 followed a uniform strategy with a set differential for pricing premium grade fuel. Facing an increasingly volatile market as well as unpredictable volumes, they were looking to grow their profits without putting their volumes at risk.

Phillips 66 knew that optimising their pricing strategy would require timelier access to additional data-points for each of their stations.

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The Solution

With access to real-time accurate volume and margin data on the EdgePetrol app, Phillips 66 worked with EdgePetrol’s Customer Success team to build a three step process to analyse, understand and execute a new strategy and identify the sweet spot of premium grade pricing.

Step 1 - analyse and identify test sites - Phillips 66 were able to analyse Super Unleaded’s performance on a site by site basis. Using data directly from EdgePetrol, they were able to understand how performance varied on each site and identify which sites would be best for us to run a pricing trial on. 

Step 2 - introduction and monitoring of new strategy - after successfully identifying trial sites, Phillips 66 conducted a 14 week trial period, with regular meetings to monitor and assess the impact of the changes across their trial sites. They monitored transaction count, average fill, overall litres sold as well as grade penetration, giving a robust and well rounded picture of local markets and shifts in performance. 

Step 3 - identify sweet spot and roll out - after monitoring and analysing data, Phillips 66 were able to identify pricing strategies that had performed exceptionally and achieved the desired outcome. These strategies can now be rolled out across the entire Phillips 66 estate in the UK, sending prices directly through the EdgePetrol app to their site managers.

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The Results

The Phillips 66 team were effectively able to identify the perfect price point for premium grades across the entire Phillips 66 UK estate. As a result, profit for premium grades increased significantly, without impacting volume by more than 5%.

Testimonial

"EdgePetrol has been fantastic for us and has given us the visibility we need to optimise our retail fuel pricing strategies."

Oliver Mueller
Director, JET Retail UK

Oliver Mueller

Book a demo now to see how EdgePetrol can help you to:

1. Get the most accurate cost of fuel
2. Track performance in real-time
3. Set and deliver new site strategies
4. Increase profit by 18% or more

Book a demo
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