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Why Big Oil is BIG for EdgePetrol

Written By

Mark Truman

-

March 27, 2019

in

#EdgePartnership

READING TIME ~

2

MIN

A friend of mine recently asked me “What do EdgePetrol do?”

 

“We provide live weighted and blended margins by grade, site and portfolio to help retailers make better and quicker decisions”, I said.

 

He looked at me with blank eyes. He doesn’t even own a car, let alone understand fuel margins.

 

“We do visibility” I corrected myself. He shrugged. This was still lost on him.

 

But something clicked in my brain. EdgePetrol are making petrol retail more visible. Fuel cost prices, gross and net margins, tank levels and competitor prices are all more accessible and accurate for our customers.

 

In other words, EdgePetrol ‘do’ visibility.

 

And this is why a partnership with Big Oil is the perfect fit. We've recently teamed up with them to give retailers more visibility on their cost prices and Big Oil is now sharing EdgePetrol's superpower!

 

So what does Big Oil do?

 

On each trading day at 9pm, Big Oil sends its customers detailed blended product prices that include Bio Fuels component and excise duty as supplied by S&P Global (Platts) “on market close service”. This is giving retailers the chance to order fuel smarter and reconcile prices from their suppliers.

 

In other words, Big Oil ‘do’ visibility.

 

The way in which Big Oil and Edge align doesn’t stop there. Retailers on a weekly contract are able to see the direction of the Platts price in order to make enhanced buying decisions on whether to buy now or hold on for a better price.

Big Oil example data

EdgePetrol are showing forecasting site demand, accounting for difficult-to-predict days such as Bank Holidays and slow periods like Christmas. This means retailers can look into the future to know whether they need to take a tanker before the price change or whether they can hold on for a better price.

EdgePetrol forecasts demand by tank up to 14 days in advance

 

And the way we see it, this is just the beginning of an exciting partnership. We are already receiving feedback from customers regarding how we can work to improve both Big Oil and EdgePetrol and if you have any ideas, we encourage you to do the same!

 

To find out more about Big Oil. Please email bigoil@rmif.co.uk

Insights and stories from the EdgePetrol team.

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