Kuwait's jet fuel, gasoline demand plunge: KNPC

Kuwait's demand for jet fuel, including kerosine, and for gasoline plunged by 70pc and 55pc respectively in the past eight weeks, according to state-owned refiner KNPC, during which time the government has imposed stringent measures to contain the spread of the Covid-19 pandemic.

The government suspended all commercial flights in and out of Kuwait International Airport on 13 March, in an effort to contain the spread of the virus. This cut directly into air travel demand, and resulted in a 70pc loss in jet fuel demand in the country. For comparison, Kuwait's jet fuel demand averaged 11,500 b/d in March and April last year, according to data from the Joint Organizations Data Initiative (Jodi).

The government began restricting movement from 1 March. These measures, which included a public holiday from 12-26 March, a partial country-wide curfew and more recently a complete lockdown in some of the worst hit areas like Mahboula and Jleeb al-Shuyoukh, have dragged gasoline demand down to 5.9mn l/d, or just 45pc of normal levels.

KNPC said diesel demand fell by just 5pc in the past eight weeks. For comparison, average consumption of diesel in Kuwait was around 40,000 b/d in March and April last year, according to Jodi.

Kuwait's health ministry has confirmed 1,524 cases of coronavirus, and said three people have died.

By Sarah Raffoul

source: Argus Media