February 12, 2020
READING TIME ~
EWING, N.J. — Hough Petroleum, a multibranded fuel and energy distributor based in New Jersey, has become London-based petroleum pricing software company EdgePetrol’s first U.S. customer. Following work with multiple major oil companies in the United Kingdom, EdgePetrol formed an alliance with industry advisory company Petroleum Equity Group to bring its product to U.S. gasoline retailers.
EdgePetrol's web-based application connects to point-of-sale transaction data, cost of goods and competitor pricing. The app displays current weighted and blended margins, volumes and profits.
“EdgePetrol’s pricing software will provide value to our business, helping us to optimize our pricing strategy. The platform’s unique capabilities will enhance our real-time data to make accurate analytical business decisions,” said Gregory Hough, vice president of business strategy and general counsel for Hough Petroleum.
“Securing Hough as our first U.S. customer is momentous for EdgePetrol. Over the next year, we will work closely with Gregory and the team to help them adapt their pricing strategy so that they can fully utilize the real-time, accurate data they will now have at their fingertips,” said Mark Truman, chief revenue officer for EdgePetrol.
“Hough and EdgePetrol are an excellent fit, and the rollout of Edge’s pricing software to 15 of their retail sites marks the start of an exciting and dynamic time for gas retailers across the United States,” said Ken Shriber, managing director and CEO of Chappaqua, N.Y.–based Petroleum Equity Group.
Ewing, N.J.-based Hough Petroleum is a petroleum products distributor of BP, CITGO, Gulf, Shell and Sinclair. The company also provides petroleum-related services and equipment with operations in New Jersey, Pennsylvania, New York, and Delaware. It supplies gasoline and diesel fuel products, lubricants, commercial fuel, diesel exhaust fluid and Mighty Auto Parts to more than 1,000 businesses, gas stations and municipalities.