A Message from the CEO
Fuel Market Update

Dear Valued Customers,

The events of the past week have been concerning for many. For those with family and friends in the affected regions, we hope they remain safe and that the conflict moves quickly toward a peaceful resolution.

Given the number of enquiries we have received, I wanted to provide an update on the factors currently influencing fuel supply and pricing. Please note that the information below reflects what we understand today based on multiple sources, and the situation may change rapidly.

• The Strait of Hormuz
  The Strait of Hormuz is one of the most critical shipping routes in the global energy supply chain, with approximately 20–25% of the world’s oil supply passing through this narrow corridor. Current geopolitical tensions have resulted in shipping movements through the Strait ceasing, with no immediate alternative route available.
• Energy Infrastructure
  Recent attacks have reportedly caused damage to oil and gas infrastructure linked to the region. The full extent of the damage is not yet clear, but it is expected to impact both crude oil production and the distribution of refined fuels.
• Global Oil Prices
  The conflict has already led to a sharp increase in global oil prices. Over the past 10 days, Brent crude has risen significantly, which flows directly through to the wholesale fuel prices we see in Australia. Last week we experienced significant increases in the price of fuel and unfortunately we are seeing continued increases so far this week.

Over the past week we have also seen a dramatic change in ordering patterns, as many customers moved quickly to refuel and secure supply ahead of anticipated price movements. This increase in demand has placed significant pressure on our operations and retail teams as they work to meet customer requirements. While there may have been some delays, our staff have remained fully committed to supporting our customers during this period, and we appreciate your patience and understanding. It is also important to note that fuel pricing is driven by global market conditions, and our retail and operations staff have no influence over these changes.

Bonney Energy is contracted and supplied through Ampol, which places us in a strong position within the national fuel supply chain. Across the industry, oil companies have already begun limiting supply to uncontracted customers and secondary suppliers who rely on spot market purchasing.

Ampol has invested heavily in building a diversified global supply network, with a significant portion of crude oil and refined products sourced outside the Middle East. This provides confidence that supply will continue to be available for contracted partners such as Bonney Energy, although pricing will continue to reflect movements in global oil markets.

At this stage it is difficult to predict how long the current situation will continue or what the full impact will be on fuel prices. Markets are responding rapidly to developments and volatility is expected in the near term.

If you have any questions, please reach out to your Bonney Energy contact. The situation continues to evolve and while we may not always have immediate answers, we remain fully committed to supporting our customers during this time.