Australia's Government Taking Sensible Steps to Address Fuel Crunch -- Market Talk

Dow Jones
03/31

2232 GMT [Dow Jones]--Measures taken by Australia's government to improve fuel supply since the effective closure of the Strait of Hormuz have been fairly collaborative and sensible, says Macquarie. For example, it thinks officials will extend the relaxation of fuel-quality standards to improve domestic supply. The government on March 12 agreed to allow higher sulfur levels in petrol for 60 days. Ampol and Viva Energy, Australia's two refiners, are benefiting from the rise in refining margins. Macquarie raises a forecast for Ampol's EPS this year by 42%, and by 62% for Viva Energy. Its price target on Ampol lifts 11% to A$40.00/share and on Viva Energy increases by 30% to A$3.50/share. Ampol and Viva Energy ended Monday at A$34.00 and A$2.53, respectively. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

March 30, 2026 18:34 ET (22:34 GMT)

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