Latest news with #U-GO
Sydney Morning Herald
4 days ago
- Business
- Sydney Morning Herald
Fresh ASX record high approaches 9000 milestone; Ampol surges on $1.1b deal; Baby Bunting soars
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket hit a fresh record high every day this week and is closing in on the 9000 milestone, with Friday's session carried by energy, banking, and mining giants. The S&P/ASX 200 gained 64.8 points, or 0.7 per cent, to close at 8938.6, with each day this week finishing higher than the last. Friday's gains came despite a middling session on Wall Street driven by a disappointing report that said US inflation at the wholesale level was worse last month than economists expected. The lifters Financials were one of the best-performing sectors of the day, climbing nearly 1.1 per cent. The big banks, which were mixed earlier in the day, all finished higher: Westpac gained 2.1 per cent, ANZ Bank rose 1.8 per cent, NAB added 0.8 per cent and even the Commonwealth Bank rose 0.6 per cent. Mining was another outperforming sector, finishing 1.1 per cent higher. Rio Tinto gained 1.4 per cent and Fortescue rose 1.3 per cent, while BHP lifted 1.1 per cent. Loading Energy stocks also rose (1.1 per cent). Santos added 1.8 per cent and Woodside added 0.2 per cent. Petrol and diesel supplier Ampol jumped 7.7 per cent after announcing a major expansion plan with the acquisition of British fuel giant EG Group's Australian petrol station network. If the $1.1 billion deal gains regulatory approval, Ampol, formerly known as Caltex Australia, would add EG's 500 fuel sites to its business, enabling it to fast-track the roll-out unstaffed, self-service petrol stations under its U-GO brand.
NZ Autocar
22-05-2025
- Business
- NZ Autocar
New fuel brand U-GO drives down pump prices
Z Energy has launched a new self-service fuel brand. It offers Kiwis a low-cost alternative at the pump. Early signs suggest it's already shaking up the market, according to Autotalk. The company announced the launch of U-GO on March 20. It is a fuel-only station model that strips out extras like shops, loyalty programmes and fuel cards. It therefore delivers what it describes as a 'fast and convenient self-service model'. 'We are seeing an increasing number of Kiwis who want a simplified, low-cost fuel and go option,' Z customer general manager Andy Baird says. 'The U-GO network will help us meet these customers' needs. 'We've identified a small portion of our existing network where we believe a self-service fuel station would benefit our customers, and we are working to turn these into U-GO branded sites. 'This will allow us to provide a consistent offer under the one brand. U-Go here is similar to Ampol's self-serve fuel business in Australia. Ampol owns Z Energy. 'U-GO will bring greater competition into the self-service fuel retailer market in Aotearoa, and we think that's great news for Kiwis,' Baird says. The first U-GO site opened in April, with Z confirming more locations are in development. 'Launching U-GO is about acknowledging there is an opportunity to evolve our offers to meet a variety of customer needs. As we grow the U-GO network, our Z-branded network will remain strong. 'Both brands have distinctly different offers that will appeal to different customer bases,' Baird says. On May 19, the U-GO station in Waikaraka, Auckland, was listed as offering the lowest price for 91 octane petrol in the country. Gaspy reported pump price of $2.29.7 per litre. The emergence of U-GO comes as traditional low-cost players like Gull face stiffer competition. Gaspy data showed the price gap between the national average and Gull's average had narrowed in recent months. Some Auckland stations now offer nearly identical prices to U-GO. Z Energy says U-GO will remain focused on localised, competitive pricing as it expands its presence across the country.
