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Gulf Oil Selects KSS Fuels Pricing and Business Intelligence Solutions

RackPrice and PriceNet selected to enhance fuels pricing decisions, streamline pricing processes and highlight key performance issues

 

Florham Park, NJ – August 5, 2008 – KSS, the global leading supplier of fuels pricing analytics, execution and optimization systems to the oil & gas, convenience store, grocery and big-box retail industries, announces that Gulf Oil Limited Partnership, a Massachusetts based wholesaler and distributor of petroleum products, has selected KSS RackPrice, PriceNet and Visualizer solutions.  

Gulf Oil, headquartered in Newton, MA will use RackPrice, to help manage fuel prices at its wholesale locations throughout the Northeast of the US, and PriceNet to support pricing decisions for its dealer-operated retail locations.  

RackPrice is an end-to-end wholesale pricing solution and includes modules for price generation automation, reporting/analysis, competitive price prediction, price-volume modeling and price optimization. The system will help Gulf Oil meet daily performance targets by improving its pricing processes and by responding more rapidly to market events.

PriceNet is a comprehensive pricing solution supporting the key tasks and stakeholders involved in pricing for dealer-operated outlets, from capturing critical contract details to the generation of dealer (or invoice) prices, via pricing rules, to consistent and timely price distribution.  

Joe Petrowski, president and chief executive officer of Gulf Oil stated, “As we continue to face extremes in cost and price volatility it is critical for us to have a flexible, efficient and responsive pricing process that enables us to analyze situations quickly and react accordingly. In addition to providing us with greater control over pricing, KSS RackPrice and PriceNet systems will allow us to more effectively manage, interpret and respond to market factors via a suite of sophisticated tools.”

“Gulf Oil is a leading marketer and distributor of wholesale fuels in its markets whom we are proud to have as a customer”, said Bob Stein, KSS chief executive officer and president. “With record prices of oil barrels and at the pumps, combined with volatility in the markets being the norm today, it is essential that fuels wholesalers and retailers have a reliable system to generate appropriate and timely prices to meet objectives and comply with regulations. We look forward to working with Gulf to successfully implement KSS fuel pricing solutions”.

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