Analysis – May 2011
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Domestic sales of refined petroleum products in May totalled 8.7 million cubic metres, 41.7 thousand cubic metres (+0.5%) higher than May 2010. Although the overall sales were up the individual product sales were down in 11 of the 17 categories.
January to May sales of petroleum products were up 4.0% compared to the same period last year.
Sales of motor gasoline in May totalled 3.7 million cubic metres, 39.6 thousand cubic metres (+1.1%) higher than the same month a year earlier.
About 89% of motor gasoline was sold at the retail pump in May. Regular unleaded gasoline accounted for 91.8% of these sales, slightly higher than May 2010 (+1.7%).
Diesel fuel oil sales totalled 2.5 million cubic metres, 83.2 thousand cubic metres (+3.4) above the same month a year earlier.
Refinery production in May totalled 8.3 million cubic metres, down 1.3 million cubic metres (-13.3%) from May 2010.
Deliveries of crude oils to domestic refineries totalled 7.9 million cubic metres, 431.8 thousand cubic metres (-5.2%) below the same month a year earlier. The decrease was primarily by a 432.4 thousand (-10.7%) decrease in imports.
Crude oil imports represented 45.9% of domestic refinery requirements. OPEC sources led by Saudi Arabia, Algeria and Venezuela accounted for 63.3% of the total foreign supply. Norway and the United Kingdom provided the additional 8.7%.
Crude oil and refined petroleum product inventories held by refineries and major distributors closed May at 12.2 million cubic metres.
Petroleum product inventories totaled 8.7 million cubic metres, an increase of 933.7 thousand meters over the same month a year previous (+12.0%). Motor Gasoline and Diesel posted the most significant increases accounting for a combined 87.3% of the total increase.
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