China’s gasoline exports in August rose 97.4% from the same period last year, according to data from the General Administration of Customs.
As domestic demand is losing momentum, refiners saw the opportunity to take advantage of fresh export quotes. Gasoline shipments in August recorded at 1.12 million tonnes. However, the volume for the first eight months of the year was still 30.4% lower than the same period in 2021.
Diesel exports were at 830,000 tonnes, up 51.8% from August 2021, while exports of jet fuel in August declined 15.4%. Still, year-to-date shipments were 4.4% higher than the same period of last year at 5.54 million tonnes.
Chinese shippers were enjoying their fourth batch of export quotas of 1.5 million tonnes for this year, taking the total volume so far in 2022 to 24 million tonnes, but still a third lower than 2021.