Iran Gasoline Demand Seen at 110 million l/d

EghtesadOnline: Gasoline consumption is expected to rise by 22% in the Nowruz (Persian New Year) holiday season, managing director of the National Iranian Oil Products Distribution Company said Friday.

News ID: ۷۴۶۹۳۱

16 March 2019

Mohammad Reza Mousavikhah said gasoline demand that now is almost 90 million liters per day is projected to exceed 110 ml/d in the coming days when families travel across the country during the annual holidays that begin on March 21, IRNA reported.

"Consumption will fall to 97 ml/d after the two-week vacation," he added.

In the past 11 months, Iranians burnt close to 90 ml/d of gasoline. This volume will rise 10% over the next 12 months, according to Financial Tribune.

NIOPDC is producing an estimated 105 million liters of gasoline per day, of which 79 million liters is compatible with Euro-5 emission standards.

"NIOPDC stopped importing gasoline last September," he said, adding that the company will not import this fuel unless there is a sharp spike and consumption surpasses 105 ml/d.

Daily gasoline production in 2017 was 60 million liters while consumption was 75 million and the shortfall was imported.

Gasoline inventory is at 1.6 billion liters, which is up 400 million liters compared to the same period last year.

Referring to the rise in air travel during the extended Nowruz holidays, the official said the company is supplying airports with all the fuel they need despite the fact that the companies owe $60 million to the Oil Ministry.

Shazand Refinery in the central city of Arak, Markazi Province, Persian Gulf Star Refinery, Bandar Abbas Refinery in Hormozgan Province and Tabriz Oil Refining Company in East Azarbaijan Province are among the major domestic producers of gasoline.

Daily diesel output and consumption is reported at 98 ml/d and 85 ml/d respectively.