Japan is poised to see a continued increase in gasoline imports through August, following a significant 20% rise in June. This uptick comes as the country’s refineries undertake essential upgrades during the busy summer season, leading to a temporary dip in domestic production.
Recent data shows that Japan’s gasoline imports in June reached 476,630 kilolitres, a 20.4% increase from the previous month, which translates to about 99,930 barrels per day. This increase reflects a robust 24.5% rise from May’s figures, and stands in contrast to the average of 55,168 barrels per day imported in 2023.
Looking forward, import levels are expected to remain strong, with projections suggesting over 120,000-130,000 barrels per day in July and August. This rise is driven by a combination of planned maintenance and necessary upgrades at domestic refineries, which is ultimately enhancing the overall efficiency of Japan’s energy infrastructure.
The uptick in imports is positively influencing regional gasoline markets, contributing to improved margins for refiners and supporting the broader energy sector. Analysts highlight that these developments are playing a key role in balancing regional supply and demand.
Additionally, companies are strategically increasing their gasoline imports to align with evolving market needs. This proactive approach helps to ensure a steady supply of gasoline, even as domestic production is temporarily affected by upgrades and maintenance.
While there is a short-term increase in gasoline demand during the summer months, long-term forecasts suggest a gradual shift towards more fuel-efficient and next-generation vehicles. This trend supports Japan’s commitment to advancing its energy infrastructure and aligning with future automotive technologies.
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