Australia's Ampol falls on passing on fuel excise cut to customers, Viva gains

Waypoint REIT

30/03/2022 05:52

** Shares of top Australian fuel supplier Ampol  ALD.AX 
fall as much as 2.6% to A$30.410, on track for their worst
session since March 21 
    ** Ampol says the 22.1 Australian cents reduction in fuel
excise, announced by the Australian government, will be passed
on to its customer in full and expects it to be reflected in
retail prices over the coming weeks 
    ** Shares of peer Viva Energy  VEA.AX  are up 1% and leading
gains on the energy index  .AXEJ  after saying they would lower
petrol prices by 10 Australian cents in addition to passing on
the fuel excise cut   
    ** ALD among the top losers on the energy index 
    ** ALD is up ~5.3% this year as of last close

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))