16 Jan 2014

Z Energy petrol market share declines

12:33 pm on 16 January 2014

Z Energy's share of the petrol market continued to decline in the December quarter although industry margins lifted.

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Photo: RNZ

The petrol retailer's report for the three months to December showed its share of total industry fuel volumes fell nearly a percentage point to 29.6% compared with a year earlier.

The company sold 214 million litres of petrol in quarter, down from 227 million in the same three months a year earlier, but lifted diesel sales to 231 million litres from 220 million.

Z Energy spokesman Jonathan Hill said the company's market share is almost exactly where it was when it was purchased from Shell in April 2010 and it had secured a higher margin per litre of petrol sold.

Chief executive Mike Bennetts has said previously his company is not willing to sacrifice margins in order to maintain market share.