Fuel Retailing in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: January 2024
ANZSIC G4000Revenue
$48.4bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
39,879
Businesses
3,752
Wages
$X.Xbn
Fuel Retailing in Australia industry analysis
Businesses in the Fuel Retailing industry have contended with volatile operating conditions. Global oil prices fluctuations and travel restrictions throughout the COVID-19 pandemic have severely hit the industry. Global crude oil prices rose swiftly over the two years through 2018-19, boosting domestic fuel prices and driving revenue growth. A global oversupply of oil, compounded by sharply deteriorating demand due to COVID-19 in 2019-20, reduced oil prices over the second half of that year. This trend filtered downstream through lower retail fuel prices, sharply reducing industry revenue in the same year. Ongoing lockdowns further constrained industry performance in 2020-21, with demand reviving over the three years through 2023-24. The Russia-Ukraine conflict has caused a global crude oil supply deficit, heightening oil prices and boosting industry revenue. Revenue is expected to inch downwards an annualised 0.3% per year over the five years through 2023-24, to $48.4 billion. This trend includes a projected hike of 1.0% in the current year, partly levelling after soaring retail fuel prices.
Trends and Insights
- Skyrocketing retail fuel prices have driven revenue growth. Global events continue to weigh on the retail prices for petrol and diesel, causing significant volatility in the cost of fuel. The recovering demand following the pandemic has accelerated revenue rebound.
- Demand for petrol has declined due to fluctuating fuel prices and shifting consumer preferences towards diesel or electric alternatives. Many consumers choose alternative methods of transportation, like walking, cycling, or taking busses, trains or trams.
- The distribution of petrol stations in Australia follows the population distribution. New South Wales, Victoria and Queensland account for the majority of locations due to their high demand for transport.
- Price and location mostly determine where drivers buy petrol. Most consumers see petrol as an undifferentiated product and buy on price. There is essentially no brand loyalty, and the advent of self-service has effectively removed site loyalty.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.3 % over the past five years, to reach an estimated $48.4bn in 2024.
Trends and Insights
Fuel prices are surging in the wake of mounting oil prices and supply chain disruptions
- The surge in the world price of crude oil has pushed up retail petrol and diesel prices, with quarterly retail petrol prices hitting record highs in the June quarter of 2022.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Diesel sales are set to drive industry expansion
- Diesel sales are poised to continue growing due to rising demand from key downstream markets.
Biggest companies in the Fuel Retailing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Ampol | 8,523.0 | |
EG | 5,260.0 | |
Viva Energy Group Limited | 4,550.0 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Petrol, Diesel and Other fuel products. Petrol is the largest segment of the Fuel Retailing in Australia.
Trends and Insights
Rising retail petrol prices have encouraged customers to switch to alternative transport, slashing petrol revenue
- The petrol segment includes both regular unleaded, classified as petrol with a research octane number (RON) below 95, and premium unleaded petrol with a RON greater than 95.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Convenience Stores in Australia
Complementors
- Petroleum Product Wholesaling in Australia
- Motor Vehicle Body, Paint and Interior Repair in Australia
- Motor Vehicle Engine and Parts Repair and Maintenance in Australia
International industries
- Gas Stations with Convenience Stores in the US
- Gas Stations in the US
- Gas Stations with Convenience Stores in Canada
- Gas Stations in Canada
- Fuel Retailing in New Zealand
Table of Contents
About this industry
Industry definition
Industry firms mainly retail automotive fuel or lubricating oils, typically at a service station. Participants also retail convenience store goods and provide services such as car washing as a supplement to fuel sales.
What's included in this industry?
DieselPetrolNon-fuel products and other services Ethanol-based fuelsLPGOils, lubricants and additivesCompanies
AmpolEGViva Energy Group LimitedPurchase this report to view all 7 major companies in this industry.
Related Terms
PETROLDIESELLPGIndustry Code
ANZSIC 4000 - Fuel Retailing in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Skyrocketing retail fuel prices have driven revenue growth. Global events continue to weigh on the retail prices for petrol and diesel, causing significant volatility in the ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Demand for petrol has declined due to fluctuating fuel prices and shifting consumer preferences towards diesel or electric alternatives. Many consumers choose alternative met...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The distribution of petrol stations in Australia follows the population distribution. New South Wales, Victoria and Queensland account for the majority of locations due to th...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Price and location mostly determine where drivers buy petrol. Most consumers see petrol as an undifferentiated product and buy on price. There is essentially no brand loyalty...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The major players are boosting their convenience offers. Larger fuel retailers are renovating their storefronts and selling ready-made meals to entice customers and sell high...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Ampol's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of EG's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Viva Energy Group Limited's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 4 additional companies
Detailed analysis
- Description and key data for Ampol, and factors influencing its performance in the industry
- Description and key data for EG, and factors influencing its performance in the industry
- Description and key data for Viva Energy Group Limited, and factors influencing its performance in the industry
- Description, key data and performance trends for 4 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Domestic and inbound foreign tourists are expected to push up demand for petrol. Fuel demand is expected to climb as foreign visitors resume.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit margins are increasing. A shift towards higher margin, non-fuel product sales like food, drinks, confectionery and tobacco are pushing up profitability.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Fuel Retailing industry in Australia in 2024?
The market size of the Fuel Retailing industry in Australia is $48.4bn in 2024.
How many businesses are there in the Fuel Retailing in Australia industry in 2024?
There are 3,752 businesses in the Fuel Retailing industry in Australia, which has declined at a CAGR of 1.0 % between 2019 and 2024.
Has the Fuel Retailing industry in Australia grown or declined over the past 5 years?
The market size of the Fuel Retailing industry in Australia has been declining at a CAGR of 0.3 % between 2019 and 2024.
What is the forecast growth of the Fuel Retailing industry in Australia over the next 5 years?
Over the next five years, the Fuel Retailing industry in Australia is expected to grow.
What are the biggest companies in the Fuel Retailing market in Australia?
The biggest companies operating in the Fuel Retailing market in Australia are Ampol, EG and Viva Energy Group Limited
What does the Fuel Retailing in Australia include?
Diesel and Petrol are part of the Fuel Retailing industry.
Which companies have the highest market share in the Fuel Retailing in Australia?
The company holding the most market share in Australia is Ampol.
How competitive is the Fuel Retailing industry in Australia?
The level of competition is high and steady in the Fuel Retailing industry in Australia.
