Petroleum product sales in Cyprus rise by 9 per cent

Cyprus experienced an increase in the sales of petroleum products during April, which amounted to 115,028 tonnes, marking a 9 per cent rise compared to April 2023, according to the latest figures released by the Cyprus Statistical Service (Cystat).

This surge is attributed to significant rises across several categories, notably in the provisions of marine gasoil and aviation kerosene, which escalated by 27.5 per cent and 6.4 per cent respectively.

Similarly, there were robust gains in the sales of both heavy and light fuel oil, which soared by 59.3 per cent and 39.1 per cent respectively.

Other products such as asphalt witnessed a 40.7 per cent increase, while motor gasoline and road diesel also saw increases of 6.9 per cent and 4.9 per cent respectively.

Conversely, the data revealed a downturn in several areas. Sales of kerosene plummeted by 59.9 per cent, alongside a notable 30.3 per cent decrease in heating gasoil and a slight 3.1 per cent reduction in the sales of liquefied petroleum gases.

Despite these declines, sales from filling stations specifically rose by 4.6 per cent, totalling 53,037 tonnes.

Comparatively, the month-on-month data from March 2024 shows an overall increase of 6.3 per cent in total petroleum product sales.

This period particularly saw a sharp rise in the supplies of aviation kerosene and marine gasoil, which jumped by 57.4 per cent and 17.7 per cent respectively. However, this was contrasted by reductions in the sales of road diesel and gasoline, which declined by 6.7 per cent and 1.5 per cent respectively.

Additionally, the total stocks of petroleum products at the end of April 2024 fell sharply by 14.6 per cent compared to the previous month’s end.

For the cumulative period from January to April 2024, there was a modest increase of 2.9 per cent in total sales compared to the same period in the previous year.

Looking back to the full year of 2023, the data indicates that sales from petroleum product stations reached 666,793 tonnes, reflecting a growth of 1.9 per cent over 2022.