Z Energy (ASX:ZEL) released their market update showing industry volumes for fuel were down.
Through Industry Exchange they show a decline of -4.8 per cent year over year.
Retail petrol declined by 24ml year over year to 282ml due to market share losses in the Caltex network.
Z’s retail petrol volume remained flat year over year.
Total Diesel volume was down -4.6 per cent year over year, primarily due to a volume decline in Commercial Diesel.
Retail Diesel volume was flat year over year. Other fuels declined -3.4% year over year due to a decline in Fuel Oil volumes and a small decline in Jet compared to the prior period.
Z reaffirms FY20 earnings guidance for RC EBITDAF to be in a range of $350 million - $385 million and the dividend to be $0.40 cents per share.
Shares in Z Energy (ASX:ZEL) closed 1.1 per cent lower at $4.59 yesterday.