Indonesia’s gasoline imports reach thirteen-month high in December

Oil

Indonesia’s gasoline imports increased by 40K b/d m-o-m and 26K b/d y-o-y to 330K b/d in December 2020, rising for the second consecutive month to the highest level since November 2019, according to the government statistics agency Badan Pusat Statistik (BPS). Imports from Singapore jumped by 75K b/d m-o-m to an eleven-month high of 213K b/d, whereas arrivals from Malaysia fell by 10K b/d m-o-m to 110K b/d.

Gasoline imports fell by 57K b/d (or 17%) y-o-y to average 284K b/d last year, as coronavirus restrictions slashed transport fuel consumption. Indonesian fuel demand slumped by 25% y-o-y across 2020 according to Pertamina, who added that a recovery of only around 10-12% is currently estimated for 2021, Reuters report.