Fuel retailers recouping refinery losses at the pump, says Z

Tue, 15 Jul 2014

By Pattrick Smellie July 15 (BusinessDesk) - Z Energy says margins on petrol and diesel have risen in recent months because fuel retailers who also own the Marsden Point oil refinery are trying to recoup up to $40 million they've had to pay to top up losses at the refinery caused by intense global competition and a prolonged shutdown. Z's chief executive, Mike Bennetts, told BusinessDesk the impact of a global collapse in refining margins, exacerbated by the costs associated with a longer than anticipated shutdown at the refinery in March...

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