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.
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.
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.
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.