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Saudi Arabia sees gasoline, diesel demand rise in 2021

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19 Oct 2021 02:10:36 GMT9
19 Oct 2021 02:10:36 GMT9

Lamyaa Bagazi and Ziad Sabbah

RIYADH/CAIRO: Average motor and aviation gasoline demand in Saudi Arabia jumped to 470 thousand barrels per day (kbd) in 2021, compared to 455 kbd in 2020, data compiled by Arab News from Jodi revealed.

Calculations made for 2021 were up to August, the year’s latest data point so far.

The data reflects a recovery in gasoline demand as the effects of the pandemic start to taper off. However, the demand is still below the pre-pandemic levels. Average gasoline demand used to cross 500 kbd before 2020 in the Kingdom.

The data for 2021 is incomplete and a 12-month dataset might lead to a different conclusion.

Saudi motor and aviation gasoline demand reached 471 kbd in August, which was a marginal decline from the previous month’s 473 kbd. In annual terms, 2021 recorded a 9kbd fall in demand as compared to last year’s August, which stood at 480 kbd.

Similarly, the Kingdom’s average diesel demand slightly increased to 497 kbd in 2021, up from 492 kbd in 2020. Nevertheless, it is still below pre-2020 levels. In 2017-19, average diesel demand was above the 520 kbd mark.

Diesel is mainly used by trucks and hence could be roughly used as a gauge for the intensity of goods shipments across the country.

In August, the demand for diesel reached 532 kbd, which was moderately higher than the same month last year by 11 kbd. It was also noticeably greater than the previous month’s demand as it recorded a monthly increase of 41 kbd.

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