Frequently Asked Questions
The Professional Petroleum Management team at Midstates have compiled a list of our most frequently asked questions about the petroleum industry. If you have a question you'd like to submit, send it to firstname.lastname@example.org
How often should the price of gas change?
This depends entirely on the market. If the price of oil isn't fluctuating daily, you could have the same gas prices at your store for a week or more. However, if the price of crude oil takes a sudden climb or drop, you could be changing your gas prices daily. Midstates has team members dedicated to watching the cost of gasoline and making sure to relate fast and accurate pricing to our customers.
Which Point-of-Sale system is right for me?
There are many factors that determine what Point of Sale is right for you. When choosing a POS, consider cost, user friendliness, repairability, and the platform your employees are familiar with. Midstates stations use one of three POS solutions: Verifone Ruby/Topaz, Gilbarco Passport, and Wayne Nucleus. Verifone equipment offers affordability and flexibility when paired with any gas pumps including Gilbarco, Wanyne, Tokeheim, and Schlumberger. Gilbarco works best with Gilbarco pumps, and seems to be the most user friendly of choices. You can see video tutorials for POS systems by clicking HERE
How can I save Gas Mileage?
This is a question that every driver asks! We have a detailed page on this (CLICK HERE), but the general solution is avoiding high speeds, keeping tires inflated, keep regular maintenance, keeping windows raised, use A/C sparingly and avoid heavy loads.
What factors control the price of gas?
Oil Companies do not control the price of gas. “Supply” is the willingness to sell at a given gasoline price--which is determined by the ability to make a profit at a given price. “Demand” is the willingness of consumers to buy at a given gasoline price. Supply and demand are impacted by numerous factors--restrictive policies at home and abroad, growing numbers of oil users, uncertainty about the future of the Mideast, the prospect of future inflation. None of these factors are affected significantly by any private oil company.
Is Premium gasoline worth the price?
Premium fuel does not necessarily pack more energy content than does regular. Rather, it allows more aggressive engine designs and calibrations that can extract more power from each gallon of gasoline. If you feed such an engine a fuel with insufficient octane, it will knock. Cheapskates burning regular in cars designed to run on premium fuel can expect to trim performance by about the same percent they save at the pump.
Should I purchase Branded fuel?
All gas is not the same, even though it starts out that way. The fuel from different filling stations comes from a common source: the "base gas" from a refinery. Workers there mix additives mandated by the Environmental Protection Agency into the base gas in order to clean a car's engine and reduce emissions. Then, the different gas companies — both off-brand and major brands — put their own additive packages in the gas to further boost both cleaning and performance. While non-branded fuel isn't necessarily bad for your car, branded fuel takes better care of your engine.
What should I consider when opening a convenience store?
Stock up on convenience store knowledge - Spotting industry trends can help you make better decisions with vendors, suppliers and your local banker.
Profile Your C-Store’s Many Markets - C-store owners often serve many local markets from the same store. One store might have customers that walk in, some that drive a short distance and maybe daily commuters cruising down the interstate or riding a nearby bus or train. Each of these C Store target markets can have different incomes, family styles, and product preferences.
Map Your C-Store Competition - Do you know where your competitors’ stores are? If your store pulls customers from a big market area, you’ll want to keep a close eye on your competition.