Italy's April road fuel sales and March crude imports jump higher

London, (Quantum Commodity Intelligence) - Road fuel sales in Italy in April of 2.335 million mt were more than double those seen last year in the same month but remain 15% below the 2019 value, according to data published Monday by industry body Energy Union for Mobility (UNEM).

Crude oil imports in March were also 6.1% down on the March 2019 level at 4.71 million mt, the closest the monthly number has been to a pre-pandemic equivalent since March last year.

While Italian April fuel sales often suffer a month-on-month downturn before rebounding as the summer driving season starts in earnest, this year April showed an unusual uptick of 3.3% from March, indicating a recovery in demand despite the entire country being placed back into the Covid-19 'red zone' over the Easter period in early April.

The data, which includes sales of diesel, gasoline and LPG for vehicles, showed some of the worst monthly sales figures over the period January-March since the start of lockdowns in the country.

A series of crackdowns were implemented starting at the Christmas and New Year period and again following the start of a suspected third wave in February.

Refinery processing statistics also showed total output for March at the highest level since August last year and up a whopping 32% on the month at 5.339 million mt.

February's figure was, though, the lowest since the pandemic began at 4.04 million mt, a 14% drop from January.

Products import data, which runs to February this year, also showed a sharp dip in that month, with the total 28% lower than the 2019 level at 0.973 million mt, also a 24% fall on the month.

This was the third-lowest monthly import figure by comparison to pre-pandemic levels so far, after April and May 2020 imports down 48% and 64% on the year at 0.625 million and 0.49 million mt, respectively.