US retail giant Costco – reportedly the world’s eighth largest retailer – is looking to enter the lucrative Australian petrol market.
Following in the footsteps of local rivals Woolworths, and the Wesfarmers backed Coles, Costco has applied to build service stations at as-yet-undeveloped stores in Sydney and Brisbane.
The retailer reportedly sold 8.7 billion litres of fuel at its 500+ US stores in 2010.
According to The Age which reported the company’s move into petrol, Costco plans to open as many as 20 outlets nationally.
US retail giant Costco – reportedly the world’s eighth largest retailer – is looking to enter the lucrative Australian petrol market.