Australian retailer Coles Myer is thought to be in the final stages of negotiating a deal with US oil giant Shell that would give shoppers at Coles’ stores the opportunity to gain discounts on petrol from Shell service stations.

Shoppers who spend a certain amount at Coles or Bi-Lo stores will be rewarded with a voucher that entitles them to a few cents off the price per litre of petrol at Shell stations.

Both Coles and Shell will hope to benefit from the deal through increased custom.

According to analysts, Shell controls around 27% of the petrol market in Australia. Caltex/Ampol has the biggest share of the market with 31%, while BP has 24% and Mobil has 16%, reported Australian Financial Review.