Ampol (ASX:ALD) has delivered a robust start to the 2026 financial year, underpinned by an exceptional performance at its Lytton refinery and strategic inventory management.
The fuel giant revealed a Lytton Refiner Margin of US$25.45 per barrel, a leap from the US$6.07 recorded during the same period last year.
The surge was largely driven by a substantial uplift in global refiner margins following the commencement of conflict in the Middle East, which impacted shipping through the critical Strait of Hormuz.
The refinery’s operational efficiency also saw a boost, with total production reaching 1,434 million litres, up 10% on the previous year.
While some of this growth is attributed to the absence of weather-related disruptions like the prior year's Cyclone Alfred, the underlying strength remains clear.
Ampol noted it was well-positioned prior to the regional conflict, having secured crude and product supplies that are now locked in through to the end of May and July 2026, respectively.
On the retail front, Australian fuel sales grew by 4.7%, supported by strong shop sales and higher convenience margins.
Although total group sales volume saw a marginal dip of 0.3% to 6,125 million litres—impacted primarily by a decline in lower-margin "net-sell" volumes—the core business segments in Australia and New Zealand maintained strong momentum.