Estimates Claim 2006 Closed at Reduced Gasoline Theft Losses

Released on = March 19, 2007, 2:57 am

Press Release Author = Shushmul Maheshwari

Industry = Retail

Press Release Summary = Gas theft cases at US fuel stations incurred a loss of US$
300 Million in 2005. But gasoline theft losses are expected to reduce in 2006.

Press Release Body = RNCOS has come up with a new report on US convenience stores
called "US Convenience Stores: A Market Analysis" that provides extensive research
and rational analysis on the burgeoning US convenience stores market. This report
helps clients to analyze the opportunities and factors critical to the success of
the convenience stores market in US.

The report finds gasoline theft is a problem in highly populated metropolitans of
US. In these areas, retailers have projected monthly losses as high as US$ 1,500 per

The National Association for Convenience Stores (NACS) says gas stealing cost fuel
stations around $300 Million in 2005 as against $267 Million in 2004. The figures
for 2006 will not come until spring, but Jeff Lenard, spokesman, NACS, expected the
numbers to settle somewhere between those of previous two years.

Lenard said in news reported by, "People were given less
opportunities to steal gas last year. 2006 saw some retailers going to prepay for
the first time. 2005 was a year that gas thefts went from a problem to an extreme
problem and retailers realized they had to take measures against it\".

However, Lenard said that many fuel stations are still reluctant to shift to prepay
mode despite the hiked gas theft reports.

Lenard further added, "\"It\'s a challenge for convenience stores to mandate pay at
the pump. If one station is 'prepay' and another one down the road is not, people
are going to go to the one that is not".

Instead of prepay mode, Lenard suggested to go for a new way of payment, Pump-on
LCC, that lets a cash customer to swipe his driving license before gasoline is
dispensed. This can make driver's license suspension possible as a penalty for
gasoline theft.

Lenard said. "That way, the system knows who you are if you drive off. I see this
method growing in time".

The state, to assist in cutting down gasoline thefts, enacted legislation in 2003
making the driving license cancellation possible as penalty for gasoline theft.

"Whether it\'s because of the chance of losing a license or because of more companies
going to prepay and the anticipation that Pump-on will branch out, there can be a
major dip in gas thefts this year," added Lenard.
About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit:
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Web Site =

Contact Details = RNCOS
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92

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