CYPRUS: Sales of petroleum products down 3.8% in 2014

Sales of petroleum products dropped 3.8% last year, compared to the previous year, while stocks of petroleum products at the end of 2014 were down 4.5% compared to the end of 2013, the statistical service Cystat reported.

The overall drop was attributed to the high cost of fuel that prompted consumers and professionals alike to fill up their tanks less and take advantage of small price drops recorded by the end of the year.
Sales of motor petrol decreased by 2.4% and low sulphur diesel by 3.8%, while bigger declines were seen in the sales of kerosene (-18.6%), diesel (-9.9%), asphalt (-14.8%), light (-6.5%) and heavy (-2.6%) fuel oil, and liquefied petroleum gas (-5.8%). A fall was also recorded in marine diesel (-3.9%) and aviation kerosene (-1.7%).
However, despite the downturn, total sales of petroleum products in the month of December 2014 saw an increase of 8.4% compared to the previous month, as lower prices were considerable in the month.
There was a rise in the sales of LPG, kerosene, gasoil, asphalt, motor petrol, low sulphur diesel, light and heavy fuel oil, as well as marine diesel. On the contrary, a decrease was recorded in aviation kerosene.
The total stocks of petroleum products at the end of the month recorded an increase of 4.9% from the previous month.