COLORADO SPRINGS, Colo. -- PriceAdvantage, a division of Skyline Products, and Oil Price Information Service (OPIS), a leading petroleum pricing source, have announced integration between PriceAdvantage and the OPIS Radius Report.
The integration allows petroleum operators to monitor real-time competitive pricing, analyze the effectiveness of their fuel pricing strategy with intelligent competitive data and visualize market trends to make course corrections to their fuel pricing as necessary.
The OPIS Radius Report feeds updated retail unleaded and diesel fuel prices for competitors within a two-, five- and 10-mile radius of a location or a specific point of interest to PriceAdvantage through a seamless interface. This service allows fuel managers to survey competitors' fuel prices without ever leaving their office as OPIS provides this data four times a day for more 100,000 unique stations.
PriceAdvantage, using data from the OPIS feed, alerts fuel managers when a competitor's price has changed. The fuel manager reviews the data against their own store survey prices in a line graph to visually see market moves, disparity in reported prices, and after hour changes; making an informed decision about his own prices, remotely changing prices at every store from headquarters or a mobile device, automatically updating the POS, pump, and electronic price sign for maximum pricing control and profitability. The approved prices can then be sent back to OPIS through an automated export; OPIS publishes the retail fuel prices to mapping sites, popular search engines and GPS devices.
"The accuracy and frequency of the OPIS Radius report combined with the real-time decision implementation of PriceAdvantage gives Petroleum marketers full control of their fuel pricing," said Fred Rozell , director of retail pricing for OPIS. "And we're excited to be a part of the process by feeding their technology with our data."
Chip Stadjuhar, CEO of Skyline Products, said, "The market can be so volatile and we feel that OPIS and PriceAdvantage together give our customers a leg up on their competition by giving them the knowledge and power to make intelligent fuel pricing decisions with real-time competitor data."
Wall, N.J.-based OPIS offers rack price discovery for thousands of wholesalers and maintains a database of U.S. wholesale petroleum prices, publishing more than 30,000 rack prices each day.
Colorado Springs, Colo.-based PriceAdvantage is a leading provider of fuel price management solutions to the convenience store industry. PriceAdvantage SMART Fuel Pricing allows fuel retailers to collect competitive data, determine optimized fuel pricing and automate fuel price changes from headquarters to the street with price change confirmation feedback, creating a streamlined closed-loop fuel pricing process. PriceAdvantage is a division of Skyline Products, a leading North American maker of sign hardware and software solutions for the transportation and petroleum industries.
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