Annual decline of 1.3% in petroleum product sales in October

08:37 - 28 November 2023

Economy Reporter

Sales of Cyprus’ petroleum product recorded a 1.3% decline in October 2023, totaling 130,677 tonnes, marking a downturn compared to the same month in 2022.

According to CySTAT, notable decreases were recorded in sales of kerosene (-48.1%), heating gasoil (-33.9%), and light fuel oil (-29.1%). Conversely, a surge was witnessed in sales of aviation kerosene (13.6%) and marine gasoil (6.5%), along with increased sales in heavy fuel oil (53.5%), road diesel (4.4%), motor gasoline (3.9%), and liquified petroleum gases (1.7%). Filling stations experienced a marginal upswing of 0.3%, reaching 55,192 tonnes.

Total petroleum product sales remained stable in October 2023 compared to September of the same year. Highlights include a robust 97.0% increase in heavy fuel oil sales, while motor gasoline and road diesel sales were reduced by 3.7% and 2.2%, respectively. Meanwhile, provisions for aviation kerosene and marine gasoil remained consistent. Total petroleum product stocks declined by 4.2% from the previous month.

The total sales of petroleum products from January to October 2023 exhibited resilience, holding steady in comparison to the corresponding period in the previous year.

(Source: CNA)

Annual decline of 1.3% in petroleum product sales in October

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