Commodity Market Report
Australia retail fuels long-term outlook
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Report summary
Australia is a mature market for oil products. By 2050, the country's passenger vehicle landscape is expected to fundamentally transform. While gasoline-powered cars will continue to dominate the market until 2030, their prevalence will rapidly decline in the subsequent 20 years, with electric vehicles projected to comprise 55% of Australia's car fleet by 2050. Australia now has only two active fuel refineries - Viva Energy's (Geelong) and Ampol's (Lytton) - which are not sufficient to meet the country's needs. Therefore, the country relies on imports of gasoline, diesel, and other petroleum products. Australia is a deregulated market, where gasoline and diesel prices are determined by free market forces. Its retail fuel sector consists of a network of approximately 8,000 service stations, with around 75% of these concentrated in the eastern states.
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