Japanese Gasoline Demand Fell To the Lowest Regord in July

According to S&P Global Platts, gasoline demand in Japan continues to fall, falling to its lowest level in decades in July, due to the combination of weather and coVID-19.

ENEOS, Japan's largest refiner, said last week that Japan's total petrol demand was about 3.96m tonnes in July, down 8 per cent from a year earlier.

"The outbreak has reduced people's willingness to travel, and with it, gasoline demand." "In addition, the domestic economy is slowing down and industrial plants are operating at lower rates, which is also affecting gasoline demand," said a Japanese refining industry source.

Japan's year-on-year decline in gasoline demand will slow to 5 percent after the rainy season ends in August, but could fall as much as 10 percent before then, according to industry forecasts cited by Reuters.

Japan's refineries have been operating at about 60 per cent of their total capacity on a daily basis, according to data released by the Japan Petroleum Association, in spite of a pick-up in domestic demand for petrol in the period since the emergency was lifted.