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Getty Petroleum Ordered to Pay $12M in Post-Bankruptcy Rent

Posted by on Jan 11, 2012 in Blog | Comments Off on Getty Petroleum Ordered to Pay $12M in Post-Bankruptcy Rent By Brian Berk JERICHO, N.Y. — Getty Petroleum Marketing Inc. (GPMI), which filed for Chapter 11 bankruptcy protection on Dec. 5, has been ordered to pay $12 million to Getty Realty Corp. by Feb. 5. According to a news release issued by Getty Realty, the U.S. Bankruptcy Court, Southern District of New York, issued an order yesterday for GPMI to pay Getty Realty $3 million by Jan. 17 and...
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The Low-Down on High Octane Gasoline

Posted by on Jan 10, 2012 in Blog | Comments Off on The Low-Down on High Octane Gasoline Are you tempted to buy a high octane gasoline for your car because you want to improve its performance? If so, take note: the recommended gasoline for most cars is regular octane. In fact, in most cases, using a higher octane gasoline than your owner’s manual recommends offers absolutely no benefit. It won’t make your car perform better, go faster, get better mileage or run cleaner....
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Chevron Moves to Cap Prompt-Pay Discounts

Posted by on Jan 9, 2012 in Blog | Comments Off on Chevron Moves to Cap Prompt-Pay Discounts Company tinkering with policy market-wide, regionally By Carole Donoghue SAN RAMON, Calif. — In a move that has rattled jobbers, Chevron has changed the terms of its prompt payment discount for wholesalers buying branded gasoline and diesel, CSP Daily News has learned. The revamp was effective January 5, the refiner told marketers in a message late last week. Most major oil companies offer...
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CSNews’ Top 10 Predictions for 2012

Posted by on Jan 6, 2012 in Blog | Comments Off on CSNews’ Top 10 Predictions for 2012 JERSEY CITY, N.J. — Legislative battles and a still-struggling economy marked a year of ups and downs for the convenience store industry in 2011. Now, with the new year upon us, the editors at Convenience Store News offer their top 10 predictions for the industry in 2012. 1. More buying and building of stores. 2011 saw a rush of both acquisition activity and new builds in the industry....
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Gulf Oil CEO Says Gas Prices Will Not Go Lower

Posted by on Jan 5, 2012 in Blog | Comments Off on Gulf Oil CEO Says Gas Prices Will Not Go Lower FRAMINGHAM, Mass. — Gas prices will not go lower than the $3.20 average seen recently in the United States, Gulf Oil Ltd. Partnership CEO Joseph Petrowski told CNBC yesterday. During the interview, Petrowski said a $3.20 average is “as low as you’re going to go” because refining margins are at the lowest rates they’ve been during the past 10 years. “We’re...
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