Chevron Retains Brand Power Title with Highest Pricing Differentials
March 4th, 2014 by Fiedler Group
In its recently-released Retail Year in Review & 2014 Profit Outlook Report, Oil Price Information Service (OPIS) named Chevron as the brand with the strongest — and highest — pricing power.
The report, which calculates differentials on a daily basis, filtering by zip code, yields a pricing power ranking system, in which the average Chevron station was shown to price its pumps 4.96cts/gallon higher than its competitors.
Chevron was followed by 76, with an average differential of 2.96cts/gallon — which represents a decrease from its position in 2013 by 11 percentage points.
Shell (2.55cts/gallon), Texaco (2.41cts/gallon), and Mobil (1.66cts/gallon) rounded out the major brands (which at a minimum have more than .5% market share).
Still, despite leading in pricing power, Chevron was second to Shell in terms of market share (despite Shell’s 0.2% drop).
BP, Exxon, and Velero (which was one of only three brands in the top 10 to see market share increase) rounded out the top five.
To read more, click here to order the OPIS report.