Fred Rae

Frederick William Rae (27 October 1931 – 17 January 2019), more commonly known as Fred Rae, was a Western Australian businessman who bought into Gull Petroleum in 1978 for $30,000.

Early life Rae was born in Mundijong, Western Australia on 27 October 1931 to parents Robert and Edith, both of whom were nurses. He had three older siblings, Jim, Grace, and John. His father was killed by a drunk driver when Rae was 14 years old. and they had a daughter Jill and son Nicholas.

Following value and supply disputes with the local Kwinana Oil Refinery, Rae began importing fuel from Singapore in 1993. This was the first time an independent fuel retailer in Australia imported fuel, and the price advantage enabled Gull stations to compete with market-leader BP.

In 2010, the Australian operation was sold for approximately $500 million, and in 2016 the New Zealand business was sold for more than $300 million.

Death and legacy Rae died on 17 January 2019, aged 87, in his family home.

Rae was recognised among the 100 most influential Western Australian businesspeople in The West Australian 2013 list.