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Thailand’s Fuel Consumption Shows Steady Growth, Signaling Economic Recovery

Thailand’s economy is displaying clear signs of recovery, with fuel consumption steadily on the rise, according to the Department of Energy Business (DEB). In the first four months of this year, various fuel types experienced a significant increase of 3.1% compared to the same period in the previous year.

DEB Director General Nanthika Thungsupanit revealed that daily fuel consumption averaged around 158.86 million liters from January to April. Petrol consumption witnessed a noteworthy surge of 5.8%, reaching approximately 31.86 million liters per day during the same period. However, diesel consumption experienced a decline of 5.8% due to reduced travel activities compared to the previous year when COVID-19 restrictions were lifted.

Jet fuel usage, on the other hand, saw an impressive jump of 92.4%, averaging 13.89 million liters per day between January and April. Meanwhile, the consumption of LPG or cooking gas slightly decreased by 3.3% to 17.18 million kilograms per day, while the use of NGV or natural gas for vehicles increased by 6.4% to 3.5 million kilograms per day.

Furthermore, Thailand’s oil imports during the first four months of the year recorded a significant increase of 7.9%, with an average of 1.1 million barrels per day. However, oil exports witnessed a decline of 2.6%, reaching an average of 151,539 barrels per day.

The DEB predicts that fuel oil consumption will continue to rise in the second half of the year, aligning with the ongoing economic recovery. They anticipate an 11.8% increase in petrol usage, a 12.1% rise in diesel consumption, a substantial surge of 23.7% in jet fuel consumption, and a notable 20.2% increase in bunker oil usage by the end of the year.

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