Kerosene consumption to lowest level in two decades

© Hollandse Hoogte
In March 2020, sales of petroleum products such as petrol, diesel and fuel oil as well as the consumption of kerosene declined by 13 percent relative to January 2020. The year-on-year decline amounted to 12 percent. This is evident from new figures on the oil market which have been released by Statistics Netherlands (CBS).
The decline in petrol sales over March was the sharpest since January, dropping by over 20 percent; year-on-year, the same percentage decline was recorded. In comparison, diesel sales dropped more mildly, namely by 2 percent since January. Year-on-year, the diesel sales declined by approximately 10 percent. In the Netherlands, diesel is mainly used as fuel for corporate lease and freight vehicles, but also in construction and the agricultural sector.

Record decline in kerosene consumption

Less aviation kerosene was bunkered (for international air traffic) last year already due to the halted growth of Schiphol Airport. Compared to January 2020, there was a 23-percent decline in the consumption of kerosene in March. The total volume of kerosene bunkered ended at 213 million kg in March, the lowest level in two decades.

Refineries make adjustments in output

The oil refineries have adjusted to the drop in demand by scaling back the production of oil products by 12 percent. Stocks of unsold petroleum products have increased. The export of petroleum products did increase in March, by 12 percent relative to January.

Petrol production down by over 13 percent

Petrol sales has declined by over 20 percent relative to March 2019, to a total of 287 million kg. Outside of the Netherlands, demand for petrol has dropped as well. For example, exports have declined by 7 percent to 2,300 million kg while production fell by over 13 percent to 1,800 million kg.
The Netherlands has the world’s largest storage space for petrol and is a major player in the international petrol market. Stocks of petrol have declined sharply relative to the previous year. Lower demand results in lower output, as stocks are being sold first.