LONDON (Reuters) - Consumption of some petroleum products in Italy last month slumped by as much as two thirds amid a lockdown that has been in place since early March to stem the spread of the coronavirus.
Jet fuel and kerosene were the hardest hit in percentage terms, falling by over 66% last month compared with the same time last year. Consumption was also down 24% in the first quarter year-on-year.
(Graphic: Italy Oil Product Consumption March 2020 IMAGE link: https://fingfx.thomsonreuters.com/gfx/ce/dgkvloaxpbx/Italy%20Oil%20Prod%20Consumption.PNG)
Gasoil and diesel consumption, which represent the biggest chunk of Italian fuel use, stood at 1.47 million tonnes last month, down 34.7% compared with March 2019. Quarterly consumption was down nearly 13%.
And gasoline demand was down more than 50% to 285,000 tonnes in March compared with the previous year.
Italy's nationwide lockdown, one of the strictest in Europe, was imposed on March 9 and recently extended until May 3.