Fuel consumption in Thailand contracted in January, especially for jet fuel, following the return of Covid-19 in mid-December last year, according to the Department of Energy Business (DOEB).
The largest plunge was jet fuel consumption, which contracted by 82.6% to a daily average of 3.85 from 22.1 million litres year-on-year, said department chief Nantika Thangsuphanich.
Demand for gasoline and gasohol also contracted by 16% to 26.7 million litres, compared with 31.75 million litres daily average in January 2020.
Other types of fuels also fell. Diesel shrank by 10.7% to 58.5 from 67.3 million litres per day. Liquefied petroleum gas contracted by 11.2% to 9,076 from 10,220 tonnes per day. Bunker oil slipped by 4% to 3.86 from 4.02 million litres per day.
The DOEB reported the decline started in December when the fresh wave began in Samut Sakhon. Demand also fell during the lockdown period last year when transport was restricted to contain the spread of the virus.
In another development, the Oil Fuel Fund Office is preparing to terminate its subsidy for diesel B20, a mix of 20% methyl ester made from palm oil and 80% diesel.
Palm oil prices have begun to increase, said an Energy Ministry source who requested anonymity.
Authorities launched the subsidy to help palm growers deal with record low palm oil prices since 2019.