Latest Ruckus Energy News
Mar 18, 2022
news, local-news, Glen Innes motorists have lined-up around the block to fuel-up for 99c/L on Wednesday morning. As fuel prices skyrocket, locals took advantage of the 'happy hour' deal as part of Ruckus Energy Co's first birthday celebration, and the timing could not have been better as the increasing prices are having a major impact, hitting locals in the hip pocket. In the past week, the average wholesale price for petrol went up by 19c/L and for diesel it was a staggering 34c/L. On Tuesday the highest fuel in the state was a short drive down the highway at the Llangothlin Independent, which was selling U91 for 223.90 cents per litre. Ruckus founder and chief of operations, Mick Jarvie, said what we were seeing was truly astounding. "Normally wholesale prices move a couple of cents in a week," Mr Jarvie said. He said behind the rise, was the Ukranian conflict adding uncertainty to crude oil supplies and speculation into the trading markets. "We may have seen the peak of it for now (as crude priced dropped somewhat on Friday), but I think we are in for a rocky ride ahead. "What you'll notice right now is that the major cities are higher than the regions as they spike prices on a regular basis (referred to as metro price cycles). "This is definitely biting into family and business budgets right now, so it's having a major impact. Of course it doesn't compare to what those in Ukraine are going through, but some people will have to limit driving if these kind of prices persist," Mr Jarvie said. On Wednesday morning, 121 customers filled-up at Endeavour service station, pumping 7350L. Ruckus launched their Australian first initiative in Glen Innes one year ago, taking fuel online. Ruckus is built on technology that allows customers to stop at the pump, turn it on from their phone, dispense the amount of fuel they want, hang up the pump and drive off - 24/7, regardless of the service station being open or closed. They charge a membership fee of $5 per month or $50 each year to use this technology and to access their fuel at wholesale prices. "We started in Glen Innes for two reasons - first we saw that historically prices were much higher than other larger centres around. The other was that our host location is very much focussed on the community and looking for ways to innovate and serve them better," Mr Jarvie said. "The reaction from the community was fantastic and our member numbers grew quickly as Glen Innes has a very strong network and word of mouth travels fast. In just 12 months, we have had 217 members join and use Ruckus in Glen Innes. So far they have pumped over 360,000L of fuel and saved over $47,000," he said. /images/transform/v1/crop/frm/cady.biddle/ec96d010-419e-47fb-8185-d54e0d1d3dd4.jpg/r1556_0_6899_3019_w1200_h678_fmax.jpg
Ruckus Energy Frequently Asked Questions (FAQ)
When was Ruckus Energy founded?
Ruckus Energy was founded in 2019.
Where is Ruckus Energy's headquarters?
Ruckus Energy's headquarters is located at 21 Waterway Avenue, Spring.
What is Ruckus Energy's latest funding round?
Ruckus Energy's latest funding round is Unattributed - II.
How much did Ruckus Energy raise?
Ruckus Energy raised a total of $21.08M.