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German Diesel Demand Falls In June: Argus Survey

OIL PRODUCTS

Diesel demand in Germany has been falling, as lower truck mileage, construction activity and industrial confidence weigh on consumption in the country according to an Argus survey of retailers.

  • Daily deliveries around 10,200m³ (64kbpd) between 1-21 June, down by around 20% from 12,600m³ (79kbpd) in May and lower by a third on the year.
  • Vortexa data show German diesel cargo arrivals at 12,000 t/d (89.5kbpd) between 1-21 June, down by around 28% from 16,700 t/d (125kbpd) a year earlier.
  • Mileage of heavy goods vehicles (HGVs) in May was down by 1.2% on the year, according to the Federal Statistical Office. Germany had seen a 5.3% fall in HGV mileage in January, the steepest fall this year and the lowest monthly count since June 2020. The statistics office says its assessment of HGV mileage hints at the state of German industry, as economic activity requires transport services. Diesel is the standard road fuel for HGV engines.
  • German industrial activity had fallen by 15% on the year in April, the data show.
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