Ricker Oil Uses Price Optimization for GasBuddy.com
FLORHAM PARK, N.J. -- Ricker Oil Co., based in Anderson, Ind., is posting its fuel prices to GasBuddy.com to keep motorists informed of its competitively priced fuel, and using PriceNet fuel price management and optimization system from KSS Fuels to establish its pricing strategy.
Moving forward, the company will also use PriceNet to feed its latest fuel prices directly to the GasBuddy database, which is a group of local Web sites, which allow visitors to post and view recent retail gasoline prices.
“We’ve used PriceNet since 2006, and it has proven to be a very valuable tool for day-to-day fuel price management and optimization,” Quinn Ricker, president of Ricker Oil, said in a released statement. “PriceNet helps us keep our prices reasonable and profitable. With the addition of the automated reporting to the local GasBuddy sites, we can keep consumers informed about our competitive prices for fuel in their area.”
PriceNet is a comprehensive pricing solution that supports the key tasks and stakeholders involved in retail fuels pricing, according to the vendor. High levels of automation and an ‘exception-based’ approach ensure a rapid response to competitors and market conditions and allow pricing analysts to leverage the power of pricing analytics, according to the company.
“The competitive retail landscape means fuel retailers must always be finding ways to bring value-added services to consumers in order to stand out in the market,” Bob Stein, president and CEO of KSS Fuels, said in a released statement. “Our PriceNet product not only lets Ricker Oil evaluate pricing at the local site level to make informed pricing decisions rapidly, it also allows them to reach consumers with fuel price information in real time via GasBuddy. This is an added service that will set Ricker Oil apart from the competition.”