China’s Mar gasoline, gasoil exports rebound to 12-month high
China’s gasoline and gasoil exports jumped to a 12-month high in March, data released late Tuesday by the General Administration of Customs showed.
Gasoline exports surged by 204.5% from February to around 1.69 million mt last month, only slightly lower from the last record high of 1.698 million mt in March 2018.
The jump was largely attributed to the low base of 555,000 mt in February, which was well below market expectations. Analysts and traders had expected February exports to be around 1 million mt.
The March gasoline exports were still 55.8% higher from an average of 1.09 million mt over March 2018-February 2019.
The country’s gasoil exports also hit a fresh record high of 2.71 million mt in March, up 14.2% from a year earlier.
Its last record high was at 2.37 million mt in March 2018, up 66.3% from an average of 1.63 million mt over March 2018-February 2019.
In the first quarter, China’s gasoline exports totaled 3.56 million mt, up 5.5% from a year earlier, while gasoil exports also rose 28.9% to 4.7 million mt over the same period, GAC data showed.