Petroleum sales show seasonal fall

The total sales of petroleum products recorded a decrease of 1.6% compared to the previous month in April according to the Statistical Services.

In April alone significant decreases month on month were recorded again in the sales of products which are consumed for heating. Sales of Kerosene decreased by 59.9%, Gasoil by 39.5% and Liquefied Petroleum Gases by 21.1%.

By contrast, significant increases were recorded in the provision of petroleum products to aeroplanes (40.2%) and ships (7.9%).

Lower imports meant that the stocks at the end April were 17.7% lower than in March. The major decreases of stocks appeared in benzine, aviation kerosene and gasoil.

These trends are evidently for seasonal reasons, since according to our calculations, sales of petroleum products in January-April 2007 were 4.4% higher than in January-April 2006, while petroleum stocks were 1% higher.