Fuel & Forecourt News

BP not proceeding with Woolworths’ fuel network buyout

BP Australia has announced it won’t continue with its proposed acquisition of Woolworths’ retail fuel and convenience business. Despite its best efforts, BP has determined the transaction, originally announced on December 28, 2016, cannot be structured to meet its strategic objectives. In a statement released this week, BP Australia said, …

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Petrol prices hitting four-year highs

Growing concerns about risks to global crude-oil supplies have caused international oil prices, and local retail petrol prices, to jump dramatically, peaking in May. Average petrol prices in Australia’s five largest cities (Sydney, Melbourne, Brisbane, Adelaide and Perth) remained broadly stable in the March quarter 2018, according to the Australian …

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