Pilot-FlyingJ Making Money - But Costing Truckers More? - GLG News
Summary
The merging of Flying J into Pilot Travel Centers LLC looks like a winner for Pilot, but with some concerns yet to be addressed. The referenced article by Jack Humphreville of TheTrucker publication lays out the pros for them, but also rightly notes the issues that truckers are seeing - plus concern by competitors and others. We offer the following from our trucking side of things.
Analysis In July of 2009, we authored the article “Major Truck Stop Competitors Merging - Flying J + Pilot = Higher Retail Prices?” ( link ) where we summarized the rise of Flying J, their small-fleet / independent contractor following and their lowest fuel price approach, along with their other services like their fuel purchase card. Having grown up in the fuel sector, we figured we’d see increased retail prices.
In July of 2010, we updated the merger with the article “Flying J & Pilot Truck Stops Cleaning Up Loose Ends - Creates Mega-Player” ( link ) where we noted the franchised restaurant opportunity, the sale of properties to Love’s Travel Stops, ConocoPhillips sale of their 50% Conoco-FlyingJ Properties to Pilot and the Pegasus TransTech scanning deal. We also corrected our previous thoughts where the Flying J TCH fuel card was given a big boost with Pilot’s 50% ownership and expanded usage versus our original thought that it would be marginalized. We also noted that fuel buyers were still watching prices.
We all know that fuel prices are the largest operating cost for truckers. Those in the oil industry have shared some baseline metrics to follow: take crude price in USD per barrel, divide by 42 gallons per barrel. Add in other upstream costs and refining costs of $0.07-$0.15 per gallon depending where you are at. Then add in US Federal taxes of $0.24 per gallon and State taxes depending where you buy fuel ($0.10-$0.30 per gallon).
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