As of mid-March, we have contracted about 6.8 million gallons of fuel for the 2017 fiscal year. The company’s goal for the year is 8.5 million gallons, so we still have some room to go before we reach the mark. The good news is we have already surpassed the 5.9 million gallons which were contracted in 2016.
“There has been a concerted effort by supply, marketing and our bulk plant divisions to promote fuel contracting and we have made good progress,” says James Greer, vice president of supply and government affairs. “There is still a great buying opportunity at the moment as the market is depressed compared to historical pricing for this time of the year. We’re closing in on our goal and we just need to keep working hard to hit the target.”
Fuel contracting presents customers with the opportunity to lock in pricing for set periods of time. From a company perspective, contracting fuel allows us to improve delivery efficiencies.