JAKARTA: Indonesia’s state-owned Pertamina is expected to import around 11 million barrels of gasoline in April, up 2.15 million barrels from March, traders said.
The rise in gasoline imports was attributed to increased demand for the higher RON gasoline.
The imports would comprise around 9.1 million barrels of 88 RON gasoline, 1.4 million barrels of high-octane mogas component 92 RON gasoline and 500,000 barrels of finished grade 92 RON gasoline.
Earlier estimates for April imports were 9.16 million barrels of 88 RON gasoline, 400,000 barrels of HOMC 92 RON gasoline but no finished grade 92 RON gasoline.
“Demand for 92 RON is higher. Usually when the retail price difference between 88 RON and 92 RON is small, demand for higher RON increases,” an industry source said.
Another source suggested that the higher imports for April could be due to Pertamina rebuilding its inventory.
For March, Pertamina’s imports were said to comprise 8.15 million barrels of 88 RON gasoline, 200,000 barrels of HOMC 92 RON gasoline and 500,000 barrels of finished grade 92 RON gasoline.
Imports by Pertamina, Asia’s largest gasoline importer, in the first quarter averaged 8 million-9 million barrels/month, down from 11 million barrels/month in Q4 2014.
