Australia’s big two supermarkets, which not long ago accounted for half of all retail petrol sales across the country, are gone from the sector, and now one of their replacements wants to get out, too.

British-born EG Group, which paid $1.73 billion for Woolworths’ 540 company-owned fuel convenience sites in April 2019, has revamped efforts to sell its Australian arm and is in talks to cut its losses and get out, only six years after landing with a splash and promising to shake up the local market.