National Iranian Oil Products Distribution Co (NIOPDC) announced on 12 January that gasoline consumption for the current Iranian year (from 20 March 2024) has to date averaged 124mn l/d (780,000 b/d), up 7.4% on 115.4mn l/d (726,000 b/d) for the year-ago period. CEO Keramat Veis Karami adds that diesel consumption has risen faster still, up 9% on the year-earlier 110mn l/d (692,000 b/d) to an implied 120mn l/d (755,000 b/d).
Iran’s oil consumption continues to rise thanks to generous subsidies but refining capacity has flatlined amid US sanctions. As a result, Iran has returned to gasoline imports, after ceasing them in 2018, with Tehran allowing the private sector to import high-octane ‘premium’ gasoline last November. (CONTINUED - 114 WORDS)