Thai oil product demand dip 6% in March

Data from Thailand’s Energy Ministry showed that demand for oil products, excluding bitumen and liquefied petroleum gas, dipped 5.9% in March from a year earlier to 590,360 barrels per day. The economic downturn caused industrial demand to drop in March, as consumers reduced spending. An 11% rise in oil prices then added to negative consumer sentiments. Demand for 95-octane gasoline posted a 58% year-on-year drop, as drivers favored to buy subsidized gasohol. Demand for diesel fuel also declined by 35% year-on-year, while fuel oil demand declined around 40%. Demand for jet fuel also dropped 8.9%. (May 6, 2009)