Marathon Petroleum’s Average Fuel Sales Price

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This statistic highlights Marathon Petroleum’s Average Fuel Sales Price, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Marathon Petroleum’s Average Fuel Sales Price, on a quarterly basis from Q1 2016 onwards.

Marathon Petroleum’s Average Fuel Sales Price

Item Q2 2019 Q1 2020 Q2 2020
Average fuel sales prices $2.7 $2.4 $1.9

(All figures in dollars per gallon)

Marathon Petroleum’s Average Fuel Sales Price has declined by 0.27% i.e. it reduced from $2.7 per gallon to $1.9 per gallon between Q2 2020 and Q2 2019. It has been constant at $2.7 per gallon in Q2 2019 and Q3 2019. However, after Q3 2019, it started declining. It reduced to $2.6 per gallon in Q4 2019, and in Q1 2020 it decreased to $2.4 per gallon.

The average sales price of Marathon Petroleum’s further declined in Q3 2020. It reduced from $2.4 per gallon in Q2 2020 to $1.9 per gallon in Q3 2020. Indicating a decrease of 0.19%, the effects of COVID-19 lead to the decline in average sales price. 

Due to a decrease in refined product sales volumes and sales prices in the COVID-19 pandemic, the net income attributable to Marathon Petroleum Company decreased $1.10 billion in the second quarter of 2020 as compared to the second quarter of 2019. 

Overall, Marathon Petroleum’s Average Sales price has been showing an increasing trend since Q1 2016, but with the advent of COVID 19, the average sales price started declining from Q4 2019.

The reason for this decline can be seen – as the pandemic spread all over the world in 2020, the entire globe locked down and due to reduced travel and business operations associated with the pandemic, the total revenue of the company declined. Since the demand for the products reduced, it led to a decrease in the sales price. 

Fall in energy prices leads to reduction in investments, drilling activity, and production rates by third parties in the development of new oil and natural gas reserves. The prices for oil, natural gas, and NGLs depend upon factors beyond the company’s control, including global and local demand, production levels, changes in interstate pipeline gas quality specifications, etc. Sustained periods of low prices resulted in producers deciding to limit their oil and gas drilling operations. This substantially delays the production and delivery of volumes of NGLs, oil, and natural gas.

The company’s operating results are affected by price changes in crude oil, natural gas, and refined products, as well as changes in competitive conditions in the markets they serve. Price differentials between sweet and sour crude oils, ANS, WTI, and MEH crude oils, and other market structure impacts also affect the sale price and operating results

About the Company

MPC was incorporated on November 9, 2009. MPC stock trades on the NYSE under the ticker symbol “MPC”.

Marathon Petroleum Corporation (“MPC”) has become the largest independent petroleum product refining, retail, midstream business and marketing business in the United States. It has over 130 years of experience in the energy business. They operate the nation’s largest refining system with approximately 2.9 million barrels per day of crude oil refining capacity. In the United States they are one of the largest wholesale suppliers of distillates and gasoline to resellers. In addition, the company’s integrated midstream energy asset network links producers of natural gas and NGLs from some of the largest supply basins in the United States to domestic and international markets.

On May 14, 2021, they completed the sale of Speedway, and company-owned and operated retail transportation fuel and convenience store business, to 7-Eleven, Inc. This transaction resulted in a pretax gain of $11.68 billion ($8.02 billion after income taxes), after deducting the book value of the net assets and certain other adjustments. MPC is committed to executing its plan of using the net proceeds from the sale to strengthen the balance sheet and return capital to shareholders.

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