Z Energy says slowing economy hurting sector

Fri, 01 Nov 2019

Tough retail competition and a slowing domestic economy may see more fuel retailers shut outlets in the coming year, Z Energy says.Industry-wide petrol volumes in the six months through September were unchanged from a year earlier while the slowing economy saw diesel volumes fall 2 percent – particularly in the forestry, property development and roading sectors. Z Energy chief executive Mike Bennetts said the company is seeing a slowdown across the country.August diesel volumes had been weak, which the company initially attrib...

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