UPDATED: GERMANY DATA: April jet demand at 13-month high

Quantum Commodity Intelligence – Daily jet fuel deliveries hit a 13-month high in Germany in April, while demand for road fuels dipped slightly, according to updated data released Friday by the Federal Office of Economics and Export Control (BAFA).

This story updates earlier posted figures from BAFA which indicated jet demand had doubled from March.

April daily jet sales gained 10% on the month to 13,233 mt and were last higher in March 2020 at 16,452 mt.

Eurocontrol flight data for Germany in April showed the number of daily passengers averaged 1,900, up 16% from March, and the slight disparity in increase relative to fuel demand indicated that the length of flights was on the up and some wholesale stock building, amid the contango market, and in anticipation of the summer demand surge.

Jet demand remained at less than half the pre-pandemic level though, at 397,000 mt for April this year, compared to 925,000 mt in 2019.

Meanwhile, total gasoline deliveries dropped 4.7% in April to 1.267 million mt, which represented 42,233 mt per day, down 1.6% on the month.

Diesel demand fell 4.3% to 2.785 million mt overall, or 92,833 mt per day, down 1.1%.

The total figures were down 14.1% and 13.8% from 2019 for gasoline and diesel respectively.

Demand for light heating oil jumped to 1.496 million mt in April this year, up from 0.823 million mt the prior month and compared to just 0.78 million mt in April 2019.

Temperatures in parts of Germany were significantly below 5-year averages, likely leading to an uptick in consumption, while still historically low flat prices amid a rising market may also have caused restocking by domestic users that typically keep tanks at home.

Total deliveries of refined products in April were 7.092 million mt, or 236,400 mt per day, compared to 236,323 mt the prior month and 277,667 mt in April 2019.