Fuel company Ampol has reported a 21% decline in its Lytton Refiner Margin (LRM) for the first quarter of 2024.
The LRM, which represents the difference between the market value of importing a standard Lytton Refinery basket of products and the cost of importing the crude oil required, was at US$11.80 per barrel, compared to US$14.90 per barrel in the same period last year.
Ampol's refinery production also saw a 7.3% decrease, while convenience retail fuel sales volume and international sales volume were down by 6.2% and 6.7% respectively.
However, the company's EBIT from non-refining divisions was in line with the prior corresponding period.
Ampol attributed the decline in LRM to reduced Singapore refined product cracks and the impact of supply disruptions.
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