China May gasoline demand to contract over 10% YoY

China's daily gasoline demand in May is estimated at 390,300 tonnes, up 6.6% from April but down 10.7% year-on-year, as EV substitution persists and high prices continue to constrain demand. The exports are minimal at just 45,000 tonnes.

China's daily gasoline consumption in May is projected to fall over 10% compared with the same period last year, partly due to high prices constraining the downstream demand, aside sustained substitution of electric vehicles, according to OilChem's data. In detail, China's gasoline demand is estimated at around 390,300 tonnes/day in