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InfoQuest

DEB: Thailand's fuel consumption drops by 7.5 percent in the first three months amid economic interruption caused by epidemic

April 30, 2020


Abstract : Thailand's fuel consumption dropped by 7.5 percent in the first three months amid economic interruption caused by epidemic.

InfoQuest, (April 30, 2020) -- Ms. Nanthika Thangsupanich, director-general of the Department of Energy Business, announced that during the first three months of 2020 (January-March), Thailand's total fuel consumption reached 150.56 million liters/day, dropping by 7.5 percent compared with the same period of previous year; that of gasoline fuel dropped by 2.3 percent; that of diesel fuel dropped by 2 percent; that of Jet A1 dropped by 17.4 percent; that of fuel oil dropped by 29.9 percent, that of kerosene dropped by 2.5 percent; that of LPG dropped by 11.7 percent; that of NGV dropped by 17.0 percent.

Because of COVID-19 outbreak in early 2020, on March 26, 2020, Thailand announced to enforce an emergency decree and take sealing measures to contain the spread. That has interrupted many economic activities and added woe to the economy, which has shown signs of slowdown in the end of 2019.

The average consumption of gasoline fuel was 31.1 million liters/day, down 2.3 percent year on year. Among which, the average consumption of gasohol was 30.3 million liters/day, down 1.6 percent year on year; the average consumption of gasoline was 0.8 million liters/day, down 21.8 percent year on year.

An analysis on the overall consumption of gasohol shows that the consumption of gasohol E20 was 6.5 million liters/day, up 3.8 percent, the highest increase margin. The main reason: the price of gasohol E20 was 3.01 baht cheaper than gasoline 95 on average. The second was gasoline 95, with an average consumption of 14 million liters/day, up 2.5 percent. The main reason: the price of gasoline 91 was close to that of gasoline 95, with a price difference of only 0.27 baht/liter. So consumers preferred to use gasoline with higher octane. The average consumption of gasoline 91 reduced to 8.7 million liters/day, down 9.7 percent. The average consumption of gasohol E85 was 1.1 million liters/day, down 11.4 percent.

The average consumption of diesel fuel was 67.6 million liters/day, down 2.9 percent year on year. The average consumption of regular high-speed diesel (B7) reduced to 51.5 million liters/day, down 22.2 percent. The average consumption of B10 was 6.4 million liters/day (put into market in the end of May, 2019). The average consumption of B20 was 6.7 million liters/day (put into market in the end of July, 2018). The above-mentioned consumption is the usage amount according to the government's domestic basic diesel policy for spreading the use of B10.

The average consumption of Jet A1 was 17.7 million liters/day, a year-on-year decrease of 17.4 percent. The reasons behind: COVID-19 has hit hard on aviation industry; many airlines have announced to suspend international flights since March 2020 to prevent the spread of COVID-19, hence a sharp decline of demands.

The average consumption of LPG was 16 million kg/day, a year-on-year decrease of 11.7 percent; transportation industry has witnessed the largest margin of decline, and the consumption was 2.4 million kg/day, down 18.8 percent. That was followed by petrochemical industry, with consumption standing at 6 million kg/day, down 17.9 percent. The consumption of industrial sector was 1.8 million kg/day, down 3.1 percent. The smallest decline occurred in household sector, with consumption standing at 5.7 million kg/day, down 3.0 percent.

The average consumption of NGV was 4.8 million liters/day, down 17.0 percent year on year. Thanks to the policy encouraging the use of B20 in large trucks, people and buses have shifted to B20.

Total imports of fuel dropped compared with the same period of the previous year. The average imports of crude oil stood at 928,923 barrels/day, down 6.5 percent, and the total value of imports stood at 55.062 billion baht/month. The main reasons: refineries were still under maintenance, resulting in a reduction in demand for imported crude oil for refining. Imports of refined oil, including gasoline, basic diesel, fuel oil, jet fuel, kerosene and LPG, fell to 33,901 barrels/day, down 57.6 percent, and the total import value was 1.978 billion baht/month.

Export value of refined oil, including gasoline, basic diesel, fuel oil, jet fuel, kerosene and LPG, amounted to 180,601 barrels/day, an increase of 0.6 percent compared with the same period last year, and total exports stood at 10.373 billion baht/month.

Source: InfoQuest, by Wilawan Pongpitak/ Rachada, translated by Xinhua Silk Road

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