KSS Fuels Including Gross Profit Percentage in its Pricing System

KSS Fuels (soon to be doing business as Kalibrate Technologies) announced that gross profit percentage (GP%) is now incorporated into its day-to-day fuels pricing process. The additional functionality facilitates price generation and analysis based on GP%, alongside traditional cents per gallon (CPG).

Gross profit percentage “provides deeper insight into fuel and overall site profitability for the savvy retailer,” said Bob Stein, president and CEO of KSS Fuels.

As part of its GP% initiative, KSS Fuels recently added the metric to its PriceNet product suite; reporting and dashboards will now display fuel profitability by CPG, gross margin (in any currency) and GP%. In addition, PriceNet will have the capability to generate and validate prices based on GP%. These important additions will provide a further lens for retailers to view fuel profitability utilizing the same accepted method they use for every other product sold in their convenience stores and ensure that the appropriate GP% is achieved by the retailer. Applying a consistent metric will provide insight into the real return from fuel compared with other products and, potentially, facilitate different pricing methodologies as this measure becomes more widely accepted.

“A number of key fuel retailers are proposing the adoption of GP%,” Stein added. “The industry has spoken about unit margin for such a long time that it’s naturally going to take a shift in thinking for GP% to be accepted. As a leading retail fuel pricing provider, however, we will continue do all that we can to support this important initiative.”

Quinn Ricker, president and CEO of Ricker Oil Co. in Anderson, Ind., said the enhancement to the system “will help me as I continue to look at new and improved methods of analyzing the success of my business.”

KSS Fuels has headquarters in Manchester, United Kingdom, and Florham Park, New Jersey. The company also has a Center of Excellence in Tulsa, Oklahoma, and sales operations in Florida, Illinois, Ohio, Texas, Canada, Brazil, China, India, Japan, Korea and Africa.