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COLORADO SPRINGS, Colo. -- PriceAdvantage, a division of Skyline Products Inc. and Oil Price Information Service (OPIS), announced it is integrating the OPIS Radius Report to provide real-time competitor fuel prices. The integration will allow operators to monitor competitive pricing, analyze fuel pricing strategies with intelligent data and visualize market trends to make fuel pricing course corrections as necessary, the company stated.
"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," said Chip Stadjuhar, CEO of Skyline Products.
The OPIS Radius Report provides competitors' retail unleaded and diesel fuel prices within a two-, five- and 10-mile radius of a location or a specific point of interest to PriceAdvantage through a seamless interface, the company explained. PriceAdvantage then alerts fuel managers when a competitor's price has changed. The manager compares the data against his or her own survey prices in a line graph to seev virtually how the market moves. The manager can also see disparity in reported prices and after hour changes and make informed price decisions with the ability to remotely change prices at every store from headquarters or a mobile device and automatically update the point-of-sale (POS), pump and electronic price sign. The approved prices can be returned to OPIS through an automated export. OPIS updates this data four times a day for over 100,000 unique stations and publishes 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 pricing fuel," 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."
PriceAdvantage is a provider of fuel price management solutions to the convenience store industry. OPIS is the world's most comprehensive database of U.S. wholesale petroleum prices, publishing more than 30,000 rack prices each day.