Europe downstream oil in brief: EG Group enters the US retail fuel market in pioneering move
Following years of rapid growth, Europe's largest independent retail fuel dealer group - EG - has announced a pioneering move to enter the US market. The EG group acquired major US retailer Kroger's chain of 762 fuel and convenience stores. Our analysis takes a closer look at the deal metrics to answer some key questions. European refining margins fell sharply in January as rapidly rising crude prices coincided with a seasonal dip in demand for major oil products. The consequent increase in wholesale prices for gasoline and diesel resulted in retail fuel margins coming under pressure, as pump prices were unable to keep up with rising cost of product.