Petrol prices fell to two-decade low in June quarter, according to ACCC

Petrol prices fell to two-decade low in June quarter, according to ACCC

4 years ago
Petrol prices fell to their lowest level in more than two decades for the June quarter, as pandemic restrictions hit the industry hard. In the Australian Competition and Consumer Commission’s latest petrol monitoring report released this week, the average retail price for the quarter across Sydney, Melbourne, Brisbane, Adelaide and Perth was just 109 cents per litre (cpl) – a significant 28.8cpl drop from the March quarter. In response, retailers hiked up their retail margins […]
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Ampol service station loss

Ampol’s oil refinery sinks to loss as virus drains fuel demand

4 years ago
Australian fuel supplier Ampol has detailed the severity of COVID-19’s impact on its operations as travel restrictions wipe out demand and send its oil refinery sinking to a loss of nearly $60 million. Ampol, formerly Caltex Australia, told shareholders on Tuesday it was suffering “unprecedented challenges” amid the pandemic’s devastating effect on petrol and jet fuel consumption so far this year as flights remain grounded and cars parked in driveways. The company’s benchmark underlying profit […]
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nick and his son

Petrol king takes over Adelaide tower in $175m deal

4 years ago
Petrol king turned property magnate Nick Andrianakos has consolidated his family’s commercial property footprint in Adelaide, acquiring a Flinders Street office tower from Cbus Property for $175 million. The purchase of 50 Flinders Street, on a yield of around 6.5 per cent, is the biggest office investment so far for the family company, Nikos Property Group. It stands next to Santos House at 60 Flinders Street, which Nikos bought two years ago from Lendlease for […]
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Port Stephens Council Split Decision in Medowie Service Station

5 years ago
THE last Port Stephens Council meeting for the year saw a controversial development application approved by Councillors for a new service station and convenience store in Medowie. The proposal at 787-795 Medowie Road saw two interested parties request time to address Council prior to the meeting, Peter Childs for the applicant, being Medowie Fuel Pty. Ltd. and local resident Greg Brennan spoke. Greg, who lives a small distance up Medowie Road, told News Of The […]
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