Motorists fill up on premium, Caltex says More motorists are filling up with premium fuel as unleaded sales continue to fall, Caltex says. MORE motorists are filling up their cars with premium fuel as unleaded sales continue to fall, Caltex says. Caltex surprised the market on Thursday with a four per cent forecast increase in full year marketing earnings to $765 million as it continues to roll out new service stations around the country. The increase is expected to offset refining losses, and sent shares in the fuel supplier and retailer up 13.1 per cent to $19.12. Caltex says its marketing is focused on driving sales of premium fuels, including Vortex diesel and commercial diesel, as it notches up record sales volumes to date. "Continued growth in premium fuel sales more than offsets the impact of declining unleaded petrol sales," the company said. It said increased penetration of premium products had been underpinned by the opening of new service stations and diesel stops as well as the refurbishment of older service stations. The share price gains came despite Caltex saying it expects replacement cost operating profit (RCOP), its preferred measure, to be between $320 million to $340 million for the 2013 full year ending December 31. The lower forecast full year RCOP was mainly due to Refining and Supply losses of around $175 million, driven by a deterioration in the Caltex Refiner Margin in the second half and a falling Australian dollar. "Whilst marketing has delivered another record result, refining and supply losses have been driven by the negative impact of key externalities, including the significant deterioration in the Caltex Refiner Margin during the second half and a continuing fall in the Australian dollar," the company said. The Australian dollar's fall would result in a net loss of around $80 million. Caltex buys crude in US dollars. The company added that improved refinery reliability in the second half resulted in near record production of diesel and jet fuel, offsetting the cost of incidents recorded in the first half. Caltex predicts the historic cost profit including significant items will be $540 million to $560 million. That compares to $57 million in 2012, which included $309 million in significant items for future costs relating to the closure of the Kurnell refinery which is due to be converted into an import terminal in the fourth quarter of 2014.