02
Sep

Pearl Energy enters Townsville fuel market promising lower prices

A NEW petrol retailer is entering Townsville’s rapidly expanding fuel and convenience store market, promising cheaper fuel as a distributor of one of the world’s largest refiners.

Pearl Energy, based in Sydney, will own and operate the new Mobil service station and shop on Nathan Road, Aitkenvale, which is hoped to be trading by next week.

Pearl Energy spokesman Nikesh Patel said the company was expanding throughout NSW and Queensland and was entering the Townsville market for the first time.

They were also planning an outlet in Yabulu just north of the city, he said.

“Wherever we go the big oil companies don’t like us because the price goes down,” Mr Patel said.

“Mobil is doing the right thing by consumers, providing good fuel at the right price. The wholesalers are happy, the retailers are happy and that’s makes the consumers happy. Another new service station in town always makes the prices go down,” Mr Patel said.

Construction of the Aitkenvale fuel outlet and small goods shop is nearing completion.

Also, property agency Knight Frank Townsville is seeking an operator for a drive-through outlet planned to be built next to the service station.

Knight Frank agent Mark Fitzgerald said the drive-through would be constructed once a tenant committed to a lease. It would then be developed to suit their needs.

Mr Patel said Pearl Energy had been operating for about 11 years but had started on a major growth strategy about three years ago.

They operated 52 outlets and would be opening another 22 across Queensland and NSW by the end of the year, he said.

“The fuel industry has a lot of confidence that it’s going to stay around for another hundred years,” Mr Patel said.

RACQ spokeswoman Renee Smith said fuel retailers were transitioning their businesses to cater for a decline in petrol and diesel sales and to cater for electric vehicles and other low emission vehicles.

But she said electric vehicles and hybrid electric vehicles only comprised around 1.8 per cent of the Australian car sale market this year so the need for service stations to offer traditional fuels would continue for some time.

“The main difference motorists will have already noticed, however, is there has already been a strong shift to convenience store and take away food offerings at service stations,” Ms Smith said.

She said it was estimated about 70 per cent of a service station’s profit came from the convenience and takeaway food products, with only 30 per cent coming from fuel.

Extracted from Townsville Bulletin