Commodity Market Report
Australia retail fuels long-term outlook
Report summary
While gasoline-engine vehicles retain dominant position till 2040. The combined share of electric and hybrid vehicles is expected to reach around 55% of the passenger vehicle stock by 2050 to gain dominant position. The rise of alternatively-powered vehicles sees gasoline demand stagnate from 2019 while diesel demand is forecast to grow until the mid-2030s. The country has a network of around 8,000 service stations and around 75% of retail service stations are located in the eastern states, namely New South Wales, Victoria and Queensland. Similar to some other developed markets, there is a strong presence of convenience store operators in the retail fuel market. These players often adopt a high volume, low margin model with the sale of higher margin non-fuel items offsetting the slim margins generated from fuel sales.
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